甲骨文-业绩略逊预期，但 2026 财年下半年增长动能依然强劲

ab 10 December 2025 Global Research Oracle Corporation A Bit Light But 2H Ramp Remains Compelling Summary Oracle posted 2Q/Nov results (13% c/c revs growth, 66% cloud infra growth) that fell slightly short of investor estimates, as did the messaging around leverage/financing, but in our view the conversion of the massive $523b deal backlog to high revs growth in 2H/ FY27 is compelling enough that we're sticking with our Buy rating. Topline/Backlog Story The conversion of backlog/capex/revs to bottom-line re ...