TECH - Oracle Misses Q4 Earnings — Stock Surges On Booming AI Demand OpenAI Contract Partnership With Google And More | Benzinga
Oracle Corp (NYSE:ORCL) reported financial results for its fiscal fourth quarter after the market close on Tuesday. Here’s a rundown of the report.
Q4 Earnings: Oracle reported fourth-quarter revenue of $14.3 billion, missing the consensus estimate of $14.554 billion, according to Benzinga Pro. Oracle reported fourth-quarter adjusted earnings of $1.63 per share, missing average analyst estimates of $1.65 per share.
Remaining performance obligations were up 44% and total revenue increased 3% on a year-over-year basis. Total cloud revenue was up 20%, cloud infrastructure revenue was up 42%, cloud application revenue was up 10%, Fusion cloud revenue was up 14% and NetSuite Cloud ERP revenue was up 19% in the quarter.
Oracle highlighted the strength of recent AI demand. The company ...