Oracle shares slide
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Oracle Corp. shares fell more than 10% in extended trading after the company reported a jump in spending on AI data centers and other equipment, rising outlays that are taking longer to translate into cloud revenue than investors want.
Oracle shares dropped 11% in premarket trading on Thursday, extending the previous session’s losses after the company reported quarterly results that underscored both the promise and the pressure of its accelerating cloud ambitions.
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Oracle stock tumbled after the company reported second-quarter earnings that came in way above projections, and guidance that came in short of estimates.
Oracle shares plunged as higher AI spending, rising debt, and a slight revenue miss spooked investors, despite massive cloud contract wins and soaring remaining performance obligations.
Larry Ellison’s cloud computing giant Oracle plunged on Wednesday over fears that his bet on AI is failing to pay off.
While the cloud giant beat earnings per share and sales growth forecasts, its revenue numbers came in lower than expected.
Three months ago, Oracle Corp.’s scorching earnings outlook sent the shares soaring to their best day in three decades. But a quarter later, things look very different for the database
Oracle’s stock dropped 11% as its outlays on data centers jumped and its sales fell short of expectations, a possible sign of further AI investment concerns. The software giants
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