Oracle Japan shares surge 7% after record fiscal first quarter, bucking selloff of U.S. parent
Oracle Japan shares surged after the company reported record fiscal first-quarter sales and profits.
TL;DR
- Oracle Japan shares rose over 7% after reporting record fiscal first-quarter sales and profits.
- Cloud business revenue increased by 31.7% year-on-year, reaching 25.14 billion yen.
- Net sales and all profit metrics achieved record highs for the fiscal first quarter.
- The company plans to expand its sovereign cloud offering and enhance its AI solutions in Japan.
- Oracle maintained its full-year sales growth outlook of 6-10%.
- Oracle committed over $8 billion to cloud and AI infrastructure in Japan over a decade.