EUR/USD 1.16436
-0.007%
Gold 4202.09
-0.158%
Oil 59.876
0.659%
USD/JPY 155.296
0.120%
GBP/USD 1.33325
0.040%
GBP/JPY 207.053
0.174%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Indias Ministry of Clean Energy: No guidance has been issued to suspend or halt new clean energy financing.The U.S. Geological Survey reports a 5.2-magnitude earthquake 221 kilometers southwest of Tuar, Indonesia.The Russian Ministry of Defense stated that Russian air defense forces shot down 77 Ukrainian drones last night.On December 7th, renowned tech journalist Gurman revealed that Apple CEO Tim Cooks hands "shake occasionally," but the cause of the tremors remains unclear. The report states that this phenomenon has been increasingly discussed within Apple over the past few months. Sources familiar with the matter revealed that both executives and ordinary employees have noticed Cooks trembling hands during meetings and large company events. However, those close to Cook indicate that his health is good.Conflict Situation: 1. Russia – Over the past day, Russian forces struck 152 areas targeting Ukrainian energy and transportation infrastructure, military equipment depots, and temporary deployment sites of Ukrainian armed forces and foreign mercenaries, shooting down 366 Ukrainian drones. 2. Ukraine – Over the past day, 184 battles occurred in the frontline areas. Ukrainian forces repelled dozens of Russian offensives in multiple directions, including Sloborzansk, Kupyansk, and Pokrovsk, destroying Russian tanks, armored vehicles, artillery systems, and other equipment; Ukrainian forces shot down or suppressed 585 attack drones of various types. Other Developments: 1. Zelenskyy spoke with the US, and both sides agreed on the next steps and methods of dialogue. 2. French President Macron will travel to London to assess the situation in Ukraine with the leaders of Britain, Germany, and Ukraine. 3. Ukrainian President Zelenskyy: Speaks with NATO Secretary General Rutte. 4. Turkish Foreign Minister: We are “on the right track” in our mediation efforts in Ukraine and hope that all parties will not leave the negotiating table. 5. The International Atomic Energy Agency (IAEA) has assessed that a protective enclosure used to contain the reactor at the Chernobyl nuclear power plant was damaged, and repairs have been initiated.

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