The stock markets have resumed the bullish momentum again with S&P 500 close to ATH, while the Oracle stock jumped to new record highs indeed, as it opened with a major bullish gap at the US opening today, following the release of company earnings yesterday. The surge in stock markets earlier this month was led by tech and AI companies, who seem to be taking the lead again now, after the report from Oracle Corporation showed that earnings per share was higher than expectations.

Oracle Stock Daily Chart – Buyuers Waking Up to New Highs

Today Oracle shares climbed to $129.60 at the highest point, which means an 11% gain, surpassing the previous record closing high of $126.70. Furthermore, this surge is on track to be the second-largest 1-day increase ever. These strong financial results and the subsequent increase in Oracle’s stock price reflect investors’ confidence in the company’s performance and its ability to capitalize on the growing demand for cloud services and infrastructure.

In comparison to the previous year, Oracle’s adjusted earnings experienced a 16% jump, and sales saw a 7% rise in the Q3. These financial results indicate that Oracle performed slightly better than analysts’ expectations, demonstrating growth in both earnings and revenue. Investors and traders have jumped aboard the ship on these figures, which show Oracle’s performance and prospects moving forward in the highly competitive technology industry.

Oracle Cloud and License Support Services

Oracle announced adjusted earnings of $1.41/share yesterday, on sales totaling $13.28 billion, while economists had anticipated adjusted earnings of $1.38 per share on revenue of $13.28 billion for the same period. The reports also showed significant growth in its cloud infrastructure revenue, which surged 49% year-on-year to reach $1.9 billion in the February quarter. Additionally, the company’s cloud services and license support sector, witnessed sales growth, reaching $9.96 billion, surpassing expectations of $9.94 billion.

This indicates a stabilization in that part of the company, following a period of lower sales growth in the cloud infrastructure segment, which had caused Oracle’s shares to decline late last year. As a result of these positive financial results, Oracle’s stock surged over 12% during intraday trading on Tuesday and is expected to close at a record high. The company’s fiscal third-quarter profits exceeded analyst forecasts, contributing to the significant increase in its stock price.

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