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Oracle rises 7% on solid earnings
Oracle announced strong financial results, expected to lead to a stock increase of about 7%. The company’s revenue grew by approximately 30% in the first fiscal quarter, with net profits reaching $4.68 billion. The successes were mainly driven by the expansion of data centers and increased cloud computing revenues, which rose by 62% to reach $11.61 billion, surpassing analysts’ expectations. However, the company faces challenges such as a weak cash position and debts totaling $125 billion, along with a negative cash flow of $5.4 billion, and a decline in profits from the software division. Oracle plans to increase its investments in AI technologies, signing contracts worth over $30 billion, and aims to achieve revenues of $90 billion by the fiscal year 2027.
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