Cloud
Oracle Falls Most in Year After Posting Disappointing Growth
- Company has focused on computing power for AI workloads
- CEO says fiscal-year cloud revenue should top $25 billion
The Oracle offices in Redwood City, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Shares of Oracle Corp. fell the most in a year after the software giant reported lukewarm quarterly revenue, disappointing investors who recently boosted the stock to a record high on enthusiasm for the company’s booming cloud business.
Fiscal second-quarter revenue increased 9% to $14.1 billion, the company said Monday in a statement. Sales from Oracle’s closely watched cloud infrastructure business jumped 52% to $2.4 billion, in line with the growth projected by analysts.