U.S. Stock Market News | Q1 Financial Report Exceeds Expectations, Oracle Surges Over 13%

On Tuesday, Oracle's stock price rose after announcing its latest financial results, with the stock up over 13% to $158.75 as of the time of writing. The company's first-quarter revenue, profit, and highly anticipated cloud infrastructure revenue all exceeded expectations, citing the multi-cloud agreement with Amazon AWS as a "milestone" event. The company's Q1 revenue increased by 7% year-on-year to $13.3 billion, surpassing analysts' expectations of $13.23 billion; notably, cloud infrastructure revenue, which attracted much attention, increased by 45% year-on-year to $2.2 billion, exceeding analysts' expectations of $2.18 billion. Non-GAAP net profit increased by 18% year-on-year to $4 billion, while GAAP net profit was $2.9 billion. Oracle signed a multi-cloud agreement with Amazon AWS, and Oracle's latest technology, the Exadata hardware and database software 23ai version, will be embedded in AWS cloud data centers. When launched in December this year, AWS customers will be able to easily access Oracle databases