Posted 3/11/2024, 11:16:43 PM
Oracle Beats Q3 Profit Estimates, Announces Nvidia Partnership Amid Cloud and AI Growth
- Oracle beats profit estimates for Q3, shares surge nearly 14% after hours
- Oracle announcing partnership with Nvidia amid AI boom and cloud growth
- Oracle revenue $13.28B, slightly below estimates; profit $1.41/share beats by $0.03
- Oracle Remaining Performance Obligations up 29% showing strong bookings
- Oracle forecasts Q4 revenue growth 4-6%, below 6.5% estimate; optimistic on continued cloud demand