Oracle fiscal Q1 results fall short, but order book swells amid AI-fuel demand

Investing.com - Oracle reported Tuesday fiscal first-quarter results that fell short of estimates, but the cloud-computing company’s order book more than tripled from a year ago, signaling strong AI-fueled demand.

Oracle Corporation (NYSE:ORCL) rose more than 14% in recent afterhours trading following the report.

For the three months ended Aug. 31, Oracle reported adjusted per-share income of $1.47 on revenue of $14.93 billion, missing Wall Street expectations for $1.48 on revenue of $15.9 billion.

Remaining performance obligations, a gauge of booked revenue, climbed by 359% to $455B, e as the company signed four multi-billion-dollar contracts with three different customers in Q1.

Looking ahead, the Oracle Cloud Infrastructure revenue is expected to grow 77% to $18 billion this fiscal year—and then increase to $32 billion, $73 billion, $114 billion, and $144 billion over the subsequent four year, the company said.

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