Why Oracle Stock Is Moving Higher Tuesday
Portfolio Pulse from Adam Eckert
Oracle Corp reported better-than-expected Q4 financial results, with revenue increasing 17% YoY to $13.8 billion and adjusted earnings of $1.67 per share. The company guided for fiscal Q1 revenue growth of 8% to 10% and cloud revenue growth of 28% to 30% YoY. Oracle's board declared a quarterly cash dividend of 40 cents per share.
June 13, 2023 | 12:34 pm
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POSITIVE IMPACT
Nvidia is using Oracle's clusters for AI infrastructure, which may positively impact Nvidia's AI capabilities and indirectly benefit its stock price.
Nvidia's use of Oracle's clusters for AI infrastructure may enhance its AI capabilities, leading to potential growth in its AI business. This partnership with Oracle may indirectly benefit Nvidia's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Oracle's better-than-expected Q4 results and positive guidance for Q1 revenue growth may boost investor confidence, driving the stock price higher.
Oracle's Q4 results exceeded analyst estimates, with strong YoY revenue growth and adjusted earnings. The company's positive guidance for Q1 revenue growth and cloud revenue growth may lead to increased investor confidence and a higher stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100