Oracle Beats On Top And Bottom Line, Touts Role In Nvidia's AI Development, Shares Jump
Portfolio Pulse from Adam Eckert
Oracle Corp reported a 17% YoY increase in Q4 revenue to $13.8 billion, beating analyst estimates. Adjusted earnings per share were $1.67, surpassing consensus estimates of $1.58. Cloud services and license support revenues rose 23% YoY, while cloud infrastructure revenue was up 76%. Oracle's board declared a quarterly cash dividend of 40 cents per share.
June 12, 2023 | 8:22 pm
News sentiment analysis
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NEUTRAL IMPACT
Oracle highlighted that Nvidia is using the company's clusters for AI infrastructure, showcasing the collaboration between the two companies.
While Oracle's mention of Nvidia's use of its clusters for AI infrastructure showcases their collaboration, it is not a significant enough development to have a direct short-term impact on Nvidia's stock price.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Oracle's Q4 revenue and earnings beat estimates, driven by strong growth in cloud services and infrastructure. Shares jumped in after-hours trading.
Oracle's better-than-expected Q4 results, driven by strong growth in cloud services and infrastructure, are likely to boost investor confidence and push the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100