• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Iranian military claims that its drones attacked fuel storage tanks and aircraft refueling at Israels Ben Gurion Airport.On March 21, according to a customs announcement, on the morning of March 20, Sun Meijun, Director-General of the General Administration of Customs, met with Qu Dongyu, Director-General of the Food and Agriculture Organization of the United Nations (FAO), and his delegation at the Administration. They exchanged in-depth views and reached broad consensus on strengthening cooperation between Chinese Customs and the FAO, assisting in the capacity building of agricultural and food product security in the Global South, promoting international trade facilitation through smart customs, and supporting the Hainan Free Trade Port in playing an international exemplary role. Deputy Director-General Zhang Baofeng also attended the meeting.On March 21, following the conditional easing of US sanctions on Iranian oil, an Axios reporter stated that this move would allow Iran to earn approximately $14 billion in oil revenue. This would be the first time the US has purchased Iranian oil since 1996, all during the war with Iran. However, the New York Times points out that it remains unclear whether the limited lifting of sanctions on Iranian oil will affect global oil prices. Energy analysts believe that most of the crude oil shipped by sea has already been purchased and accounted for, meaning that lifting sanctions on this oil will not significantly increase the supply of oil in the market. Former US Treasury official Daniel Tannebaum stated, "I dont think Iranian crude oil will be imported into the United States." He added, "First, the supply of crude oil is a problem because most of it has already been booked; second, which global bank is funding the Iranian oil trade, regardless of whether such trade is legal?"On March 21, Sun Meijun, Director-General of the General Administration of Customs, met with Lee Myung-koo, Director-General of the Korean Customs Service, who was in China to attend the 20th China-Korea Customs Cooperation Conference. The meeting focused on implementing the important consensus reached by the leaders of China and South Korea, deepening customs cooperation between the two countries, and jointly promoting trade security and facilitation in China, South Korea, and the Asia-Pacific region. Three customs cooperation documents were signed. Following the meeting, Zhang Baofeng and Lee Myung-koo co-chaired the 20th China-Korea Customs Cooperation Conference. Both sides exchanged in-depth views on strengthening the partnership in "smart customs," deepening electronic networking of rules of origin, risk management, customs statistics, intellectual property protection, mutual recognition of Authorized Economic Operators (AEO), inter-customs cooperation, and anti-smuggling enforcement cooperation, reaching broad consensus on cooperation.On March 21, according to the US-based "War Zone" website, the Pentagon confirmed that a US F-35A fighter jet operating over Iran made an emergency return and landed at an undisclosed US military airfield in the Middle East. Video released by the Iranian Revolutionary Guard shows the stealth fighter jet being attacked. Foreign media reports suggest this may be the first time an F-35 has been hit in combat since its introduction, setting a new world record for air combat.

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.