Oracle misses on earnings but touts data center growth from AI

Core Insights - Oracle's quarterly results fell short of analysts' expectations, but the company remains optimistic about its cloud infrastructure segment [1][4] - Total revenue increased by 6% to $14.13 billion, while net income rose by 22% to $2.94 billion, or $1.02 per share [1][4] - Revenue from Oracle's cloud services surged by 10% to $11.01 billion, making up 78% of total sales [1] Cloud Infrastructure Segment - The cloud infrastructure segment experienced a significant growth of 49%, reaching $2.7 billion in revenue [2] - Demand for computing power, particularly for artificial intelligence projects, is driving this growth [2] - Oracle plans to double its data center capacity within the calendar year due to record customer demand [2] Other Financial Metrics - Revenue from cloud and on-premises licenses decreased by 10% year over year, contributing $1.1 billion [3] - The company announced an increase in its quarterly dividend from $0.40 to $0.50 per share [3] - As of the latest close, Oracle's stock has declined nearly 11% year to date [3]