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Huawei Terminal: The Huawei Pura series and all-scenario new product launch event will officially kick off at 14:30 today.According to Iranian media Mizan, Iran today executed two people accused of involvement in an "Israel-linked spy network."On April 20th, Yu Hao, founder of Dreame Technology, revealed that since its establishment in 2017, the company has achieved an average annual revenue growth of 100% for eight consecutive years while maintaining a high profit margin. Its products are sold to over 120 countries and regions worldwide, with a market share ranking number one in more than 30 markets.On April 20th, Hong Kong Trade Development Council (HKTDC) Chairman Frederick Ma stated on the 19th that, facing the ongoing tensions in the Middle East, Hong Kong should "turn crisis into opportunity," viewing the situation as an opportunity to attract global capital and talent to solidify its position as an international financial center. Simultaneously, the HKTDC officially launched the "Global Access" one-stop service, leveraging the resources of its 51 offices worldwide and utilizing Hong Kongs professional services in accounting, taxation, finance, and verification to fully support mainland enterprises in expanding into international markets. Ma pointed out that the national "15th Five-Year Plan" emphasizes innovation and technology, bringing significant opportunities to Hong Kong. He revealed that the HKTDC has already held 16 meetings on the "15th Five-Year Plan" in mainland China, inviting representatives from Hong Kong and mainland enterprises to discuss innovation, technology, and talent development. He reiterated that Hong Kong must effectively utilize and strengthen its role as a "super-connector" and "super-value-added agent" to consolidate its position as an international financial center.A Bank of Japan survey indicates that Japanese households expect the average inflation rate to be 10.3% five years from now, with a median of 5.0%.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

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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.


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