Reported 14 days ago
Oracle anticipates that its cloud infrastructure revenue will reach $166 billion by fiscal 2030, accounting for nearly 75% of total sales, driven by diverse customer bookings. CEO Clay Magouyrk highlighted robust commitments, including a $20 billion agreement with Meta and significant projects with OpenAI. Despite a strong cloud revenue rise of 28% to $7.2 billion in the last quarter, overall revenue expectations have led to mixed stock performance.
Source: YAHOO