Will Oracle’s Cloud Business Boost and Strong Bookings Fuel Its Market Competitiveness?”
Oracle Corp.’s stock surged 13% following a robust performance in its cloud computing sector, with bookings far exceeding expectations. The company reported an $80 billion sales backlog, topping analysts’ $59 billion forecast. This growth, primarily from significant cloud infrastructure contracts, marks a pivotal stride in Oracle’s competition with tech giants like Amazon and Microsoft. Despite previous slow growth, Oracle’s cloud revenue jumped 25% to $5.1 billion, indicating renewed momentum in this fiercely competitive market. (Bloomberg)
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