EUR/USD 1.15610
0.327%
Gold 4343.88
2.439%
Oil 76.270
-1.423%
USD/JPY 157.556
-0.559%
GBP/USD 1.34972
0.326%
GBP/JPY 212.662
-0.239%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Iranian Foreign Minister Araqchi: There will be no negotiations as long as the United States violates the interim agreement.According to Interfax news agency, the Russian Ministry of Defense stated that Russia attacked two Ukrainian oil refineries in the Sume region.On August 9th, Iranian Foreign Minister Araqchi, speaking about the recent regional conflicts, stated that Iran, having suffered military strikes from the United States and Israel and resulting in casualties, will not forget the dead in the recent conflicts. He said, "We will neither forget nor forgive." Araqchi added that, facing external pressure, Iran will continue to uphold its stance of resistance and safeguard its national independence and dignity.The Houthi rebels in Yemen said they attacked Saudi Aramcos Jazan oil refinery.On August 9th, it was reported that Taylor Swift successfully secured the removal and muting of audio tracks from videos on TikTok by the Trump team that used her song "August" and other works without authorization. The Trump teams TikTok account had previously posted several videos using Taylor Swifts songs as background music. One video celebrating August used Swifts "August," showing Trump and First Lady Melania watching fireworks, with the caption jokingly stating, "Im sure Taylor Swift would be very happy we used her song." The audio from this video has since been removed from the platform due to copyright issues. Additionally, another video from the Trump team used Taylor Swifts song "Father Figure," which included footage of Trump with his son Barron and clips related to Trumps attempted shooting in 2024. This song is also currently unavailable.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

14.png


Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.


Suggestion