ORCL: The Strong Quarter Drives Price Higner!
$Oracle(ORCL)$ had a strong quarter, powered mainly by cloud. Revenue went up 12% to $14.9 billion, with cloud services jumping 28%. The company also signed several massive deals, which pushed its backlog to an unprecedented $455 billion. Profits were steady, though free cash flow turned negative because of heavy spending on new data centers.
“We signed four multi-billion-dollar contracts… RPO contract backlog increasing 359% to $455 billion. It was an astonishing quarter and demand for Oracle Cloud Infrastructure continues to build.” Safra Catz, CEO
Oracle expects its cloud infrastructure revenue to rise sharply to $18 billion this year and much higher in the next few years. The company is betting big that AI and multicloud demand will keep driving growth, even if near-term spending pressures cash flow.
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