As the markets wound down, Oracle Corporation’s stock price made a stunning ascent, reaching $130.50. This significant price movement was accompanied by a substantial trade volume of 8.26 million shares, signaling a robust interest from the investor community. With a hefty gain of $16.37 per share, the company enjoyed a 14.34% boost in stock value. This rally has sparked lively discussions among investors trying to decode the momentum’s underlying causes and its potential long-term impact on Oracle.
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On Monday, Oracle announced upcoming news of a collaboration with Nvidia, alongside surpassing profit expectations for the quarter, largely thanks to the burgeoning demand for generative AI. This news sent Oracle’s shares soaring to a near 14% increase after hours.
This spike in share price has significantly bolstered Oracle’s market valuation, injecting an additional $40 billion. As Oracle, a veteran in the database industry for 46 years, pivots towards cloud computing, it’s offering competitively priced services to go head-to-head with industry leaders like Amazon.com.
The company is also boosting its subscription plan appeal by forming alliances with industry heavyweights such as Microsoft and Nvidia, the latter being renowned for their AI and supercomputing chip technology.
During discussions with analysts, Oracle’s leadership team brought up Nvidia multiple times, hinting at a joint statement expected to be released next week. After adjustments, Oracle’s earnings were reported at $1.41 per share in Q3, a rise of 16% and slightly higher than the LSEG’s projection of $1.38 per share.
Oracle also reported a 29% increase in its Remaining Performance Obligations, indicating a promising trajectory for future earnings, as noted by analyst Luria. Despite these gains, Oracle’s quarterly revenue of $13.28 billion fell short of the expected $13.30 billion forecast by analysts.
