Reported about 1 month ago
Oracle Corp. saw a significant increase in its stock after reporting quarterly profits and bookings exceeding estimates, primarily propelled by strong demand in its cloud computing division. With earnings per share reaching $1.39, revenue grew 7% to $13.3 billion, backed by a 21% increase in cloud revenue to $5.6 billion. The company has also expanded its cloud database offerings through new agreements with Amazon Web Services, aiming to modernize its database business and enhance its position in the competitive cloud market.
Source: YAHOO