The Oracle stock gained 6.2% in value over the last week. The company provides a wide range of corporate-oriented IT products and services.
Why did the Oracle stock grow?The main driver was its
latest profit and loss report revealing remarkable facts:
The company’s revenue increased by 17% annually, exceeding analysts’ expectations by $110 million.
Earnings per share (EPS) rose 8% to $1.67 — $0.09 above the consensus forecast.
Oracle’s revenue increased by 18% to $50 billion for the entire year.
The revenue growth was significantly contributed by
Oracle’s acquisition of the Cerner company last year.
Reasons to trade now Oracle’s cloud infrastructure business shows incredible growth, partly reflecting the demand for AI.
The company has repurchased 12% of its shares over the past three years.
Oracle’s income from IaaS grew by 76% annually by Q4 2022.
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