The cloud giant is on pace for its best day since 1999, and is now quickly approaching the $1 trillion market cap benchmark
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Oracle
stock roared 40% higher Wednesday, after reporting gobsmacking cloud demand numbers, setting the company on track for a historic gain.
The cloud giant is on pace for its best day since 1992, and is now quickly approaching the $1 trillion market cap benchmark. Oracle is now at $950 billion.
The company said it has $455 billion in remaining performance obligations, up 359% from a year earlier.
Oracle's outlook was better than expected, leading many analysts to lift their price targets on the stock.
Oracle investors haven't had a week this good since April 2001, after the stock had collapsed in the dot-com crash.
Oracle boosted its revenue backlog total by $30 billion during the February quarter.
In 30 days during the current quarter, Oracle contracted $65 billion in new cloud infrastructure commitments, one of Oracle's…
Oracle’s shares hit a record high, driven by cloud growth and major deals with OpenAI and TikTok, forecasting aggressive future…
Oracle reported better-than-expected results for the latest quarter on Wednesday.
