EUR/USD 1.17754
-0.056%
Gold 4794.05
0.069%
Oil 89.706
0.090%
USD/JPY 159.425
0.178%
GBP/USD 1.35160
-0.077%
GBP/JPY 215.484
0.113%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ukrainian Prime Minister Sviridenko: We hope to approve more than three projects this year under the US-Ukraine joint investment fund.Ukrainian Prime Minister Sviridenko: Our American counterparts understand the importance of preventing Russia from circumventing sanctions.Ukrainian Prime Minister Sviridenko: Tell US Treasury Secretary Bessenter that sanctions against Russia should not be weakened, waived, or postponed.Ukrainian Prime Minister Sviridenko: I had a very friendly meeting with U.S. Treasury Secretary Bessant.On April 17, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan," introducing the relevant situation regarding promoting high-quality economic and social development during the 15th Five-Year Plan period. Zheng Jian, Director of the Low-Altitude Economic Development Department of the National Development and Reform Commission, stated that the development of the low-altitude economy must be based on safety; without safety, there is no low-altitude economy. Simultaneously, it must be supported by industry, taking the consolidation and enhancement of industrial development advantages as the development direction. Efforts should be intensified in the research and development of new aircraft such as heavy-load fixed-wing UAVs and long-endurance vertical take-off and landing aircraft to form a key low-altitude equipment system, driving upstream and downstream supporting industries, and creating comprehensive cluster development highlands tailored to local conditions.

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