Oracle stock jumps on Q1 results

Published: Sep 09, 2024 Duration: 00:02:24 Category: News & Politics
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let's get to some earnings from Oracle here those numbers just hitting the wire here and we're looking at adjusted earnings per share about 6 cents above what analysts had been anticipating at a buck 39 uh the company's first quarter adjusted Revenue 13.31% Cloud infrastructure division Revenue there at $2.2 billion that just about matched what analysts had been anticipating going to continue to go through the release but at the same time the company is also announcing a new partnership it looks like with Amazon web services to introduce something called Oracle database at AWS um again I'm going to keep looking into this to see what how significant it is but they put out a press release to that effect as well yeah Oracle uh C sare cats giv some color there saying uh big news she says signing a multicloud agreement with AWS uh a aw customers will get easy and convenient access to the Oracle database when we go live in December later this year uh Oracle chairman and CTO Larry Ellison also talking about that says they sign AWS contract a milestone he says in the multicloud era so we'll certainly want more context and color on the call about that Ellison by the way going on to say that Oracle uh now has 162 cloud data centers an operation and under construction around the world you know this stock you know heading into this print already Julie it had a really nice run it was up about 35% year today and tacking on more gains here in the after hours yeah um it's interesting to see that I'm you know it's interesting that they just matched that first quarter Cloud infrastructure revenue and the stock is going up to this such extent maybe in part because of this AWS um partnership here um that increase by the way in that uh unit I believe is 46% year-over-year and basically with that businesses is renting storage and Computing in the cloud um that's that cloud infrastructure business that we mentioned here so um something else to mention by the way is that we you know we've been bringing everybody coverage of that Goldman Sachs communic copia conference Matt Garmin is the CEO of AWS and he's going to be joining us what at 5:00 pm good timing yeah most definitely

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