EUR/USD 1.15610
0.327%
Gold 4343.88
2.439%
Oil 76.270
-1.423%
USD/JPY 157.556
-0.559%
GBP/USD 1.34972
0.326%
GBP/JPY 212.662
-0.239%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Dow Jones Industrial Average rose 151.42 points, or 0.28%, to close at 54,036.52 on Friday, August 7; the S&P 500 rose 47.63 points, or 0.62%, to close at 7,757.59; and the Nasdaq Composite rose 342.26 points, or 1.30%, to close at 26,690.62.Ukrainian President Volodymyr Zelenskyy expressed his gratitude for the US Senates passage of the Russian sanctions bill.According to the U.S. Commodity Futures Trading Commission (CFTC), in the week ending August 4, speculators reduced their net short positions in Chicago Board of Trade (CBOT) U.S. Treasury futures by 41,225 contracts to 176,272 contracts. They reduced their net short positions in CBOT 2-year U.S. Treasury futures by 120,346 contracts to 1,004,228 contracts. They increased their net short positions in CBOT 5-year U.S. Treasury futures by 179,319 contracts to 1,325,719 contracts. They reduced their net short positions in CBOT 2-year U.S. Treasury futures by 120,346 contracts to 1,004,228 contracts. They reduced their net short positions in CBOT ultra-long-term U.S. Treasury futures by 5,723 contracts to 314,985 contracts.The Spanish government announced that passport and nationality checks for Italian passengers will begin at midnight on Saturday and continue until September 7.On August 8th, JPMorgan Chase predicted that corporate bond issuance related to technology would exceed $500 billion this year. The bank raised its 2026 debt issuance forecast for the technology, media, and telecommunications sectors from $450 billion to $540 billion, citing increased spending by large technology companies as they lead an artificial intelligence investment cycle. A team led by JPMorgan strategist Erica Spier stated in a report on Friday that chip-backed financing will be the "next major frontier" supporting AI infrastructure development, potentially "expanding to trillions of dollars" by the end of this decade. JPMorgan has identified seven investment-grade data center financing opportunities beyond the six projects already financed, four of which are expected to come from Oracle and OpenAI. The bank anticipates Meta Platforms will return to the bond market after releasing its third-quarter earnings, while Microsoft is seen as the "biggest uncertainty," potentially raising funds from bond investors for the first time since 2017.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

14.png


Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.


Suggestion