Oracle’s latest quarterly earnings and revenue fell short of analyst forecasts, but the stock still soared after-hours as investors focused on massive cloud growth projections and new contracts.
CEO Safra Catz said the company signed four multibillion-dollar deals in the fiscal first quarter, lifting remaining performance obligations (RPO) to $455 billion — up 359% from a year ago.
Shares surged 26% in extended trading, which would mark the biggest single-day gain for a U.S. company with a $500bn+ market cap if sustained.
Catz said Oracle expects to sign more large contracts soon, with RPO likely to exceed $500 billion. The company raised its cloud infrastructure growth outlook, projecting revenue of $18 billion this fiscal year (77% growth) and as much as $144 billion in five years. Second-quarter revenue is seen growing 12–14% in constant currency, above consensus, with adjusted EPS forecast at $1.61–$1.65.
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This article was written by Eamonn Sheridan at investinglive.com.
