ORCL - Massive News for Oracle Stock Investors
2024-06-15 18:05:00 ET
Oracle (NYSE: ORCL) isn't the biggest cloud services provider around, but it's one of the fastest-growing right now -- and the company, once most known for database management, is going all-in on developing its cloud presence and serving artificial intelligence (AI) customers. The efforts are working, with demand and cloud infrastructure revenue soaring in recent times.
In fact, in Oracle's quarterly report this week, the company announced a 42% increase in cloud infrastructure revenue to $2 billion. And Oracle even forecast full-year revenue growth in the double digits based on current AI demand. The company is showing it is attracting customers -- it even signed its biggest contracts ever in the past two quarters -- and can compete with larger cloud services providers. On top of this, Oracle shared news that could be massive for the company and for shareholders. Let's check it out.
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Massive News for Oracle Stock Investors