ORCL - Oracle Stock Is Moving Higher Wednesday: What's Going On? | Benzinga
Oracle Corp (NYSE:ORCL) shares are trading higher Wednesday on the heels of the company’s quarterly results. The company also announced partnerships with Google, Microsoft and OpenAI.
What To Know: 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.
Oracle highlighted the strength of recent AI demand. The company said it signed over 30 AI sales contracts in the fourth quarter totaling more than $12.5 billion, including one contract with Open AI to train ChatGPT in the Oracle Cloud. Oracle announced a partnership with Microsoft Corp (NASDAQ: