STOCKS | Oracle Cloud Revenue Tops Estimates as AI Demand Drives Growth

Oracle said its cloud infrastructure revenue jumped 121% year over year to $7.4 billion in the fiscal quarter, above analysts' average estimate of $7.19 billion. According to Sina Finance, the company also said it added more than $30 billion in new AI cloud contracts and that its stock rose more than 6% after hours. Oracle reported fiscal-quarter revenue rose 30% year over year to $19.3 billion, while adjusted earnings per share came in at $1.92, above analysts' average estimate of $1.75. Chief Financial Officer Hilary Maxson reiterated that capital expenditures for the fiscal year through May 2027 are expected to be $70 billion, plus another $20 billion to $25 billion for prepayments on certain components.