NEW YORK (Agefi-Dow Jones)–Oracle shares jumped 9% Tuesday evening in post-closing trading after the announcement of several major artificial intelligence contracts. The software publisher also expected an acceleration in demand until 2025, but reported results lower than expected in the past quarter.
The thirty new contracts put forward by the group are valued at more than $12.5 billion in total.
Oracle has also entered into a new partnership with Alphabet which will allow its customers to combine its Oracle Cloud Infrastructure offering with technologies offered by Google Cloud.
“Customers want to be able to use different ‘clouds’ flexibly,” Oracle President Larry Ellison said in a statement.
This alliance will allow the numerous customer players of the two groups “to use Oracle’s databases and applications alongside the innovative platform and AI capabilities of Google Cloud”, for his part underlined the general director of Alphabet, Sundar Pichai.
Oracle’s net income, however, fell slightly in the past quarter, to $3.14 billion, or $1.11 per share, compared to $3.32 billion, or $1.19 per share, a year earlier. The FactSet consensus was for $1.15 per share. Adjusted earnings per share of $1.63 is also in line with consensus, which was $1.65.
Revenue rose 3%, to $14.28 billion, compared to a consensus of $14.56 billion. Services offered in the cloud generated $10.23 billion, up 9% year-on-year, without quite meeting analyst forecasts.
-Ben Glickman, The Wall Street Journal, and Emily Bary, MarketWatch (French version Thomas Varela)
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
June 11, 2024 5:44 p.m. ET (9:44 p.m. GMT)
