Oracle shares jump as revenue climbs on AI demand
The Hindu
Oracle on Tuesday said its revenue in the recently ended quarter soared more than expected as demand for services boosted by artificial intelligence outpaced supply.
Oracle on Tuesday said its revenue in the recently ended quarter soared more than expected as demand for services boosted by artificial intelligence outpaced supply.
Oracle reported $17.2 billion in total revenue for the quarter, an increase of 22 percent from the same period a year earlier.
Oracle's cloud computing unit brought in $8.9 billion, about 44 percent more money than in the same quarter last year, according to earnings figures.
Oracle shares jumped more than 9 percent in after-market trading.
"The demand for cloud computing for AI training and inferencing continues to grow faster than supply," Oracle said in the earnings report.
"Furthermore, some of the largest consumers of AI Cloud capacity have recently strengthened their financial positions quite substantially."
SIPs experience their worst February in five years, with contributions dropping 3.7% amid cautious investor sentiment.
Stock markets rebound nearly 1% as crude oil prices drop, led by gains in major firms amid easing geopolitical tensions.
Government requests Lok Sabha approval for ₹2.81 lakh crore in additional FY26 expenditure, as tabled by Finance Minister Sitharaman.
Cabinet approves amendments to the Insolvency and Bankruptcy Code and Companies Act, enhancing corporate laws efficiency.
India relaxes FDI norms for countries sharing land borders, including China, amid evolving trade relations and geopolitical tensions.
Fertilizer Association of India assures adequate urea and phosphatic supplies for Kharif season despite geopolitical tensions affecting logistics.
India prioritizes natural gas allocation to key sectors amid disruptions from the Strait of Hormuz, invoking the Essential Commodities Act.
IDFC First Bank settles ₹645 crore fraud claims from its Chandigarh branch, confirming no further discrepancies or pending claims.
Trump bought more than $500,000 of Netflix’s bonds in two transactions on December 12 and December 16 and another more than $600,000 across two more trades on January 2 and 20, the disclosures show
Oil Ministry forms panel to address commercial LPG shortages impacting hotels and restaurants amid escalating geopolitical tensions.
Rupee rebounds to 92.14 against the dollar, supported by a weaker greenback and strong equity market opening.
Stock markets rebound sharply as Sensex and Nifty recover from declines, driven by falling crude prices and improved global sentiment.
The move deepens Microsoft’s ties with Anthropic at a time when investors have questioned its dependence on OpenAI