Posted 3/11/2024, 9:33:58 PM
Oracle Soars Past Earnings Views with $13.3B Revenue, Eyes Healthcare Cloud Growth
- Oracle beats Q3 earnings expectations with $13.3B revenue and $4B net income
- Record $80B in remaining performance obligations; 43% to be realized as revenue in next 4 quarters
- Cloud infrastructure business up 53% and will remain in "hypergrowth phase"
- Major companies like Nvidia, McDonald's using Oracle cloud tech
- Set to deliver new healthcare cloud offerings next quarter, seen as high-growth business