Oracle (ORCL) Q4 earnings report 2024

Larry Ellison, co-founder, chairman, and chief technology officer of Oracle, spoke at the Oracle OpenWorld conference in San Francisco. Despite falling short of Wall Street expectations in the fourth quarter, Oracle’s shares jumped 11% in extended trading after announcing cloud deals with Google and OpenAI. The company reported earnings per share of $1.63 adjusted vs. $1.65 expected and revenue of $14.29 billion vs. $14.55 billion expected. Oracle’s revenue increased 3% year over year, with net income at $3.14 billion. The company’s cloud services and license support segment generated $10.23 billion in revenue, while its cloud and on-premises licenses business contributed $1.84 billion. Oracle’s cloud infrastructure revenue was up 42% to $2.0 billion. The company announced partnerships with Google and Microsoft, as well as new artificial intelligence features in its Fusion cloud applications. Despite leaving the advertising business, Oracle’s stock has gained 18% so far this year.


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