Oracle's Revenue Misses Expectations Despite Growth in Cloud Business

Oracle's Q1 revenue was $12.45B, slightly below expectations of $12.47B
Net income increased to $2.42B vs $1.55B a year ago
Cloud services revenue grew 13% to $9.55B, beating expectations
Cloud license/on-premises revenue dropped 10% to $809M, missing forecasts
Oracle touted $4B in AI cloud contracts, double the amount at end of Q4

cnbc.com

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