Oops, something went wrong
Oracle posted strong revenue and earnings for its first quarter of fiscal year 2027. The stock popped after the report but wavered in Friday morning trade.
The company, which has been building out data centers for customers like OpenAI (OPENAI.PVT), said its total quarterly revenue grew 30% to $19.3 billion versus $19.13 billion expected by Wall Street. The top-line result was driven largely by a 121% jump in cloud infrastructure sales of $7.4 billion.
Adjusted earnings per share also rose 30% to $1.92 versus $1.75 expected by Wall Street.
"Customer demand for AI Cloud Training and Inferencing Services continues to grow faster than supply," said the company in its earnings release.
