EUR/USD 1.15818
-0.203%
Gold 5097.35
-1.086%
Oil 89.568
1.161%
USD/JPY 158.249
0.220%
GBP/USD 1.33947
0.029%
GBP/JPY 211.974
0.249%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
British Defense Secretary Healy: We have eight fighter jets in Qatar.On March 10, Ukrainian President Volodymyr Zelenskyy posted on his official social media platform that the priorities and full attention of Ukraines partner countries are currently focused on the situation in the Middle East, therefore the meeting originally scheduled for this week at the suggestion of the United States has been postponed. Zelenskyy stated that he held a meeting with the Ukrainian negotiating team that day and instructed them to communicate with the US negotiating representatives: firstly, to reaffirm Ukraines willingness to engage in strategic cooperation on security issues, particularly in the defense of drones; and secondly, to reaffirm Ukraines willingness to undertake substantive work to end the Russia-Ukraine conflict.California Governor Newsom: Are Americans who tout "historically low" oil prices but call those worried about a war with Iran driving up prices "fools"? Trump is a liar with no plan, and he is letting the American people down.On March 10th, US President Trump stated that the US does not rule out the possibility of obtaining oil from Iran. Meanwhile, US officials stated that the war "is aimed at stripping Iran of its nuclear weapons and weakening its deterrent so that it no longer poses a threat to the United States or its Middle Eastern neighbors." Trump stated that he did not want to discuss whether he wanted the US to seize Iranian oil, but added, "Of course, people have talked about it." He referred to Venezuela, where the US launched a raid in January to capture its leader, Maduro. Since then, the Trump administration has taken steps to acquire and develop Venezuelas oil reserves. In his State of the Union address last month, Trump stated that the US had obtained more than 80 million barrels of oil from Venezuela. "Look at Venezuela," Trump said, "People have been thinking about it, but its too early to talk about it now."Standard & Poors Global Ratings stated that the Middle East wars have exacerbated the pressure on the European chemical industry.

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