- Oracle has become a central player in the AI rally by racking up a massive backlog of cloud infrastructure contracts, with a $300 billion deal with ChatGPT creator OpenAI the most prominent. That deal sent Oracle stock soaring following its most recent earnings results in September, before fears about the huge investment required to meet that demand has since powered a selloff for share of the enterprise tech firm. Oracle is borrowing heavily to build the data center capacity, including an $18 billion bond sale.
Oracle beats EPS expectations by $0.62 but missed revenue expectations. The company's remaining performance obligations (RPO) grew 15% sequentially to $523 billion.
- Reports Q2 (Nov) earnings of $2.26 per share, excluding non-recurring items, $0.62 better than the FactSet Consensus of $1.64; revenues rose 14.2% year/year (+13% CC) to $16.06 bln vs the $16.19 bln FactSet Consensus.
- Q2 RPO $523 bln, up 438% yr/yr and 15% sequentially.
- Q2 Cloud Revenue (IaaS plus SaaS) $8.0 billion, up 34% in USD and up 33% CC.
- Q2 Cloud Infrastructure (IaaS) Revenue $4.1 billion, up 68% in USD and up 66% CC.
- Q2 Cloud Application (SaaS) Revenue $3.9 billion, up 11% in both USD and constant currency.
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