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Midea Real Estate (03390.HK): Net profit in 2025 will reach RMB 601 million, an increase of 19.3% compared with RMB 504 million in 2024.March 31 – According to Iranian state media, the Iranian Islamic Revolutionary Guard Corps (IRGC) announced that, in retaliation for attacks against Iran, it will target US companies in the region starting April 1. In its announcement, the IRGC warned 18 US technology companies, including HP, Apple, Google, Tesla, and Microsoft.Evergrande Auto (00708.HK): The Company is unable to reasonably determine the publication date of its unpublished financial results as required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Company will announce the expected publication date of its unpublished financial results as soon as practicable after reasonably determining such date.Evergrande Auto (00708.HK): As the Company has not yet identified a suitable strategic investor to provide the financial support that the Group urgently needs, the Group continues to focus its limited financial resources on essential operating activities to maintain its basic business operations. Trading in the Companys shares on the Main Board of the Stock Exchange of Hong Kong has been suspended since 9:00 a.m. on 1 April 2025 and will remain suspended until further notice.On March 31, Ukrainian President Volodymyr Zelenskyy announced that he will hold a video conference with the United States on April 1. The meeting was initiated by the US, and he will participate personally. Zelenskyy also noted that Russia has conveyed a message to Ukraine demanding its withdrawal from the Donbas region within two months, or it will face "other peace conditions."

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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