Oracle's Cloud Spending Boost, Revenue Drop

Oracles revenue fell short of expectations, leading to a drop in stock price. Despite this, earnings per share beat predictions. The company plans to increase spending on cloud infrastructure and AI, facing limitations due to rapid demand growth. Oracle is expanding its cloud infrastructure through partnerships, but revenue growth forecast for the next quarter is seen as disappointing, indicating potential challenges in transitioning customers to newer cloud services.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.