Oracle Q4 Earnings Miss: $1.63 EPS, $14.3B Revenue, Stock +10% on Strong Cloud Growth and AI Deals

Jun 11, 2024, 08:07 PM

Oracle Corporation reported its Q4 2024 earnings, posting an adjusted EPS of $1.63, slightly below the expected $1.65. The company also reported revenue of $14.3 billion, missing the projected $14.57 billion. Despite these misses, Oracle saw significant growth in its cloud segment, with cloud revenue up 20%, cloud infrastructure revenue up 42%, and cloud application revenue up 10%. Additionally, Oracle signed over 30 AI sales contracts totaling more than $12.5 billion in Q4. The company announced a partnership with Microsoft and OpenAI to extend the Microsoft Azure AI platform to Oracle Cloud Infrastructure. Oracle's total remaining performance obligations increased by 44% to $98 billion, driven by AI-related contracts, including a $12.5 billion deal with OpenAI to train ChatGPT. Oracle's P/E Ratio stands at 31.42, with a market cap of $341.39 billion. The company declared a quarterly cash dividend of $0.40 per share. Revenue was up 3% year-over-year. The stock rose 10% in after-hours trading.