Oracle stock soars 30% after huge cloud growth, bold outlook
Oracle shares skyrocketed nearly 30% in after-hours after upbeat guidance overshadowed a small earnings miss. Q1 Cloud revenue surged 28% to $7.19 billion, with infrastructure revenue jumping 55%. Future revenue backlog hit $455 billion after multi-billion-dollar deals. CEO Safra Catz sees Cloud infra rising to $18 billion this year, with aggressive growth through FY30.