US Stocks Movement | Q1 Cloud Business Grows 121%, Exceeds Expectations, Oracle (ORCL.US) Opens Up Over 3%

According to Golden Ten Data, on Friday, Oracle (ORCL.US) opened with a rise of over 3%, currently trading at $156.83. In the news, on Thursday local time, Oracle released its first quarter (Q1) results and guidance, both of which beat market expectations, as AI infrastructure demand continued to drive rapid growth in its cloud business. The company's overall first-quarter revenue increased by 30% to $19.3 billion, above analysts’ forecast of $19.13 billion. Adjusted earnings per share were $1.92, also surpassing the analysts’ expectation of $1.75. Oracle's first-quarter cloud infrastructure division revenue soared by 121% year-on-year to $7.4 billion, above the analyst average estimate of $7.19 billion.

Remaining Performance Obligations (RPO) continued to grow significantly. As of the end of August, RPO reached $664 billion, higher than the $638 billion at the end of the previous quarter, and above analysts’ estimates of about $639.9 billion. The company also raised its full-year profit forecasts, expecting adjusted earnings per share for fiscal year 2027 to be $8.10, higher than the previous forecast of $8.05. Full-year cloud business revenue is projected to grow by approximately 64% to 70%, with total annual revenue reaching at least $90 billion.