Oracle's stock rises on earnings and revenue beat fueled by AI cloud demand
Oracle's cloud infrastructure revenue jumped 121% from a year earlier, reflecting demand for AI cloud services.
TL;DR
- Oracle's fiscal first-quarter revenue reached $19.35 billion, a 30% increase year-over-year, surpassing estimates.
- Cloud revenue grew 62% to $11.6 billion, with cloud infrastructure revenue jumping 121%.
- The company added 850 megawatts of data center capacity and booked over $30 billion in new AI cloud contracts.
- Oracle delivered more than 300,000 GPUs to its AI Cloud customers.
- The company guided for 30%-34% revenue growth in the second quarter and expects fiscal year 2027 revenue to be at least $90 billion.
- Despite raising over $100 billion in debt for AI infrastructure, Oracle shares rose on strong earnings.
- Citi analysts maintained a buy rating, citing Oracle's solid performance and positive outlook.