Oracle Shares Surge on Strong Cloud Revenue Outlook
TL;DR Summary
Oracle's stock surged nearly 26% after announcing four multibillion-dollar cloud contracts and a significant increase in remaining performance obligations, signaling strong future growth despite slightly missing quarterly revenue and earnings estimates. The company projects substantial revenue growth in its cloud infrastructure segment, driven by AI demand and large deals, with expectations to exceed $500 billion in RPO and reach $144 billion in cloud revenue within five years.
Topics:top-news#ai-opportunities#business#cloud-infrastructure#multibillion-dollar-deals#oracle#stock-surge
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