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Oracle Q1 results top estimates amid AI-fueled cloud demand

Investing.com - Oracle reported on Monday fiscal first-quarter results that beat analysts' forecasts, as an ongoing push by business to develop generative artificial intelligence applications boosted demand for cloud services. 

Oracle Corporation (NYSE:ORCL) shares fell 3% in after-hours trade following the report.

Oracle announced adjusted EPS of $1.19 on revenue of $12.45 billion. Analysts polled by Investing.com anticipated EPS of $1.15 on revenue of $12.44B.

Cloud services and license support revenues were up 13% to $9.5B year-on-year, but cloud license and on-premise license revenues were down 10% to $0.8B.

"As of today, AI development companies have signed contracts to purchase more than $4 billion of capacity in Oracle's Gen2 Cloud. That's twice as much as we had booked at the end of Q4," the company said Monday. 

Adjusted operating margin rose to 41% from 39% in the same period last year.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.