"Oracle's Cloud and AI Success Propel Stock Soaring"
TL;DR Summary
Oracle Corp reported a 7% increase in total revenue to $13.3 billion for the third quarter of fiscal year 2024, with cloud revenue up 25% to $5.1 billion. The company's GAAP operating income was $3.8 billion, while non-GAAP operating income increased by 12% to $5.8 billion. Oracle's earnings per share grew to $1.41, and its remaining performance obligations reached an all-time high of over $80 billion. The company's strong financial results and strategic initiatives in cloud infrastructure and innovative solutions position it for sustained growth in the software industry.
Topics:business#businesstechnology#cloud-revenue#earnings-per-share#financial-results#oracle-corp#software-industry
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