Oracle Had a 'Brilliant' Quarter, CEO Says. Its Stock Is Popping on AI Demand

Core Insights - Oracle has revised its forecast for cloud infrastructure sales, now expecting a 77% increase to $18 billion for the fiscal year, driven by rising AI demand, up from a previous estimate of over 70% [1][2] - The company anticipates that cloud infrastructure sales could reach $144 billion over the next four years, according to CEO Safra Catz [2] - Oracle's shares surged over 25% in after-hours trading following the announcement, reflecting strong market confidence [2] Financial Performance - In the fiscal first quarter, Oracle reported adjusted earnings per share of $1.47 and revenue of $14.9 billion, marking a 12% year-over-year increase, although slightly below Wall Street expectations [4] - The company noted a growing backlog from new contracts, contributing to its optimistic outlook for future sales [4] Strategic Developments - Oracle plans to sign additional multi-billion-dollar customers in the coming months, following a successful start to the fiscal year with four such contracts already signed [3] - The upcoming event will introduce a new service called "Oracle AI Database," enabling customers to utilize leading AI models for data analysis, which is expected to significantly boost cloud demand [5]