Reported about 15 hours ago
Oracle Corp. reported disappointing quarterly results, missing analysts' sales and profit expectations. Despite a 6% increase in third-quarter sales to $14.1 billion, the forecast for future quarters fell short, leading to a significant drop in stock prices. The company cited a strong growth in cloud bookings and plans for expansion in its cloud infrastructure, driven by AI demand, but concerns persist about excessive data center investments across the industry.
Source: YAHOO