Oracle announced a strategic partnership with Amazon Web Services on Monday afternoon that will further integrate its database offerings and cloud infrastructure with the Seattle tech giant's cloud platform.
Oracle (ORCL) shares jumped in extended trading Monday after the software giant reported fiscal first-quarter results that topped analysts' expectations and announced a new partnership with Amazon (AMZN).
GAAP EPS increased 20% year-over-year to $1.03. Total revenue grew by 7% to $13.3 billion.
Oracle Corp (NYSE:ORCL, ETR:ORC) shares were up in afterhours trading after announcing a new collaboration with Amazon Web Services and strong Q1 results. Oracle Database@AWS is a new solution allowing customers to access Oracle's Autonomous Database and Exadata Database Service on AWS infrastructure for streamlined database administration, billing, and customer support.
Oracle is the latest software company to show profit progress in its financial results — and see its stock get rewarded.
Oracle beat on the top and bottom line for the fiscal first quarter in its report on Monday. The stock rose in extended trading.
Oracle beat first-quarter revenue estimates on Monday, boosted by growing demand for its cloud offerings from companies deploying artificial intelligence.
UPDATE—Sept. 9, 2024: This article has been updated to reflect more recent share price information.
Wall Street expects Oracle Corp ORCL to report $1.32 in earnings per share (EPS) and $13.23 billion in revenues when the company releases first-quarter financials on Monday after market hours.
Oracle reports quarterly results on Wednesday. Plus, August inflation data and an expected European Central Bank interest-rate cut.
Oracle Corp. is set to report Q1'25 earnings on September 9, 2024, with strong expectations from analysts and investors, suggesting minimal room for an earnings surprise. Oracle's AI factory expansion and improved GPU supply position the Cloud Services segment for significant growth, potentially reaching $25B in eFY25 and $33B in eFY26. Despite near-term market volatility, I remain bullish on ORCL shares and optimistic about the company's long-term growth strategy.
Oracle (ORCL) is set to report results from its fiscal first quarter of 2025 after the market closes on Monday. Investors will likely have their eye on cloud infrastructure growth.