Oracle shares rally as cloud infrastructure revenue hits $7.4 billion and the company raises its full-year earnings outlook, driven by aggressive AI capacity deployment and record contract growth.
Oracle reported record revenue growth and raised full-year guidance, driven by cloud infrastructure and AI demand.
Oracle reported a record fiscal Q1 with revenue climbing 30% to $19.3 billion, fueled by a 121% surge in cloud infrastructure sales. The company raised its full-year guidance to at least $90 billion in revenue, citing massive AI capacity expansion and strong contract backlogs despite heavy capital expenditure requirements.
Oracle is prioritizing heavy capital investment in data centers and AI infrastructure, with $28 billion in capital expenditures during the first quarter alone.