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00:02Oracle beat fiscal fourth quarter earnings in revenue estimates and raised its full-year profit forecast.
00:08The cloud company reported adjusted earnings of $2.03 per share
00:12and revenue of $19.18 billion for its fiscal fourth quarter, topping analyst expectations.
00:19Revenue rose 21% year-over-year, while net income climbed to $4.22 billion from $3.43 billion a
00:27year ago.
00:27Cloud revenue jumped 47% to $9.91 billion, while cloud infrastructure revenue surged 93% to $5.8 billion.
00:37Oracle raised its adjusted earnings forecast for fiscal 2027 to $8.05 per share
00:43and maintained its $90 billion revenue target.
00:47Remaining performance obligations reached $638 billion, up 363%.
00:52Shares fell 7% in after-hours trading after the company announced plans
00:57to raise additional capital to fund its AI expansion.
00:59For all things money, visit Benzinga.com.
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