Oracle shares hit record high
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Chief Executive Safra Catz late Wednesday called for “dramatically higher” revenue growth rates in the fiscal year ahead.
Oracle shares soared to a record high Thursday, a day after the company projected “dramatically higher" revenue growth in its current fiscal year.
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Oracle Corporation beat Q4 expectations with strong cloud growth and AI-driven growth. Click for how ORCL valuation limits upside, but the long term remain bullish.
Oracle knew that a massive wave of orders was coming, but they refused to build out infrastructure until contracts were signed. They faced an impossible choice: Insufficient capacity or excess capacity.
Oracle shares rose to a record high on Thursday, moving co-founder Larry Ellison ahead of a pair of other ultra-rich tech leaders for the spot of world's second-richest person.
We are putting out as much capacity as we possibly can,” CEO Safra Catz said during a Wednesday earnings call.
Asian shares are trading mixed after Wall Street’s rally stalled. Investors appeared not to react much to the results of the latest round of China-U.S. trade talks.
The cloud-services company logged double-digit revenue growth in the fourth quarter and set its sights on even bigger gains in the fiscal year ahead, pushing shares higher after hours.