EUR/USD 1.17858
0.110%
Gold 5096.86
2.005%
Oil 66.320
-0.480%
USD/JPY 155.059
0.041%
GBP/USD 1.34890
0.196%
GBP/JPY 209.162
0.248%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Following the EUs inclusion of Vietnam on its list of non-cooperative tax authorities, Vietnams Ministry of Foreign Affairs stated that it is increasing tax transparency and implementing a national action plan to put forward OECD recommendations and expand tax cooperation with partners, including the EU.European Parliament member Bernd Lange proposed postponing the ratification of the EU-US trade agreement.February 22nd - According to data from online platforms, the total box office revenue (including pre-sales) for films released during the 2026 Spring Festival has exceeded 5 billion yuan! Among them, *Pegasus 3*, *Silent Assassination*, *The Legend of the Swordsman*, and *Boonie Bears: The Big Adventure* ranked in the top four. The number of moviegoers during the 2026 Spring Festival has already surpassed 100 million, marking the eighth consecutive year that the Spring Festival has seen over 100 million moviegoers! Furthermore, according to data from online platforms, the total box office revenue for films released in 2026 (including pre-sales) has already exceeded 7.5 billion yuan, surpassing North American box office results and currently ranking first in the global single-market box office.Italian Foreign Minister: I had a lengthy dialogue with EU Trade and Economic Security Commissioner Šefčovič to coordinate joint action between Italy and EU member states. Solidarity among Europeans is crucial. Tomorrow I will attend the G7 international trade meeting, followed by a tariff working group briefing Italian businesses on the situation.On February 22, Russian Presidential Press Secretary Dmitry Peskov stated that if nuclear weapons aimed at Russia were to appear in Estonia, Russia could also target Estonia with its own nuclear weapons. This comes after Estonian Foreign Minister Chahekna stated that Estonia would be willing to deploy nuclear weapons on its territory if requested by NATO.

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