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April 12 - According to Iranian sources early this morning, the Iran-US negotiations ended minutes earlier, with no agreement reached due to "US greed and ambition."On April 12, Irans Tasnim News Agency reported that some Western media outlets have begun to make "inaccurate descriptions" of the atmosphere surrounding the Iran-US negotiations in Islamabad, as the United States has failed to achieve its objectives in the talks. The report stated that only the Iranian and US negotiating teams and Pakistani officials were present at the Serena Hotel, and no media were allowed entry. Therefore, reports of "fierce clashes in the meeting room" and "handshakes between members of both sides" are purely media hype by the US to cover up its "repeated failures and weak position" in the negotiations. According to previous reports from Iranian media citing informed sources, the Iran-US negotiations in Islamabad have made no substantial progress since they began due to the USs "exorbitant demands." Some Western media outlets are exaggerating the "positive atmosphere" of the negotiations for the purpose of influencing international energy prices. Although there has been some progress in the expert-level talks, the two sides still have serious differences on several issues, including the Strait of Hormuz.U.S. Vice President Vance: We bring a very simple proposal, a way to reach an understanding, which is our final and best solution.U.S. Vice President Vance: We are quite flexible.US Vice President Vance: It needs to be clearly confirmed that Iran will not seek nuclear weapons.

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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