Oracle Stock Plunges as Cloud Sales Growth Stalls
TL;DR Summary
Oracle's stock slumped after the software giant reported quarterly sales that fell short of investor expectations, despite a 9% increase in revenue to $12.45 billion. While cloud revenue continued to drive growth, rising 30% YoY, it represented a slower rate compared to previous quarters. Additionally, the company provided a lackluster sales outlook for the current quarter.
- Oracle Stock Slumps After Cloud Sales Growth Slows The Wall Street Journal
- Oracle stock falls on slowing cloud sales growth Yahoo Finance
- Oracle comes up short on revenue but touts AI cloud contracts CNBC
- Oracle Stock Dives. Why Now Is the Time to Buy Into Its AI Potential. Barron's
- Oracle sees revenue below estimates as cloud spending sputters Reuters
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