Shares of enterprise software giant Oracle (NYSE:ORCL) fell 7.1% in the morning session after the stock pulled back, as investors locked in some gains in reaction to the company’s detailed long-term guidance, suggesting optimism might be cooling off. Fueling the initial optimism, management confirmed that remaining Performance Obligations (RPO) had exceeded $500 billion and eased…
Oracle’s (ORCL) massive backlog for its cloud business stunned Wall Street and cemented the company’s role as a key player in the AI market, lifting hopes that the broader AI-fueled tech rally has more room to run. Oracle said late Tuesday that its “RPO,” or remaining performance obligations, a measure of future revenue from customer…
Oracle co-founder and chairman Larry Ellison has dramatically shaken the billionaire landscape with a staggering $70 billion surge in a single day, narrowing the gap with Elon Musk, the world’s richest person. This extraordinary gain follows Oracle’s better-than-expected quarterly results and an aggressive growth forecast, particularly in cloud computing and AI services. Ellison’s net worth…
Oracle (ORCL) stock jumped more than 25% in after-hours trading Tuesday as the software giant said its AI-fueled cloud revenue is set to jump to $144 billion by its 2030 fiscal year — a massive leap from the company’s projection of less than $20 billion for the business in its current fiscal year. “We expect…