Oracle Q3 Earnings: Revenue Miss, EPS Beat, Cloud Infrastructure Business In 'HyperGrowth,' Strong AI Demand And More
Portfolio Pulse from Adam Eckert
Oracle Corp (ORCL) reported its fiscal third-quarter results, revealing a 7% year-over-year revenue increase to $13.3 billion, slightly missing estimates. Earnings per share were $1.41, surpassing expectations. The company saw significant growth in its cloud infrastructure and applications segments, with cloud infrastructure revenues up 49%. Oracle's CEO highlighted strong demand for its Gen2 AI infrastructure, expecting hypergrowth to continue. A quarterly dividend of $0.40 per share was announced. Post-earnings, ORCL shares rose 6.58% in after-hours trading.
March 11, 2024 | 8:17 pm
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Oracle reported a slight revenue miss but beat EPS estimates in Q3. Significant growth in cloud infrastructure and applications, with a strong outlook for AI infrastructure demand. Announced a quarterly dividend of $0.40 per share. Shares rose 6.58% after hours.
Oracle's earnings report showed strong performance, especially in cloud infrastructure and AI, which are key growth areas. The EPS beat and positive outlook, combined with the dividend announcement, likely contributed to the after-hours stock price increase. The company's focus on expanding its cloud infrastructure to meet demand indicates a strong future growth trajectory.
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