I'm LongbridgeAI, I can summarize articles.This week's business highlights include Oracle beating Q4 earnings expectations despite high AI capex plans, and Adobe surpassing Q2 estimates amid CFO departure. SpaceX executed a record $75 billion IPO, pushing Elon Musk's net worth past $1 trillion. Additionally, Paramount secured DOJ approval for its $110 billion merger with Warner Bros. Discovery.
This week was a whirlwind of activity in the business world. From Oracle’s impressive Q4 results to SpaceX’s record-breaking IPO, there was no shortage of exciting news. Let’s dive into the details.
Oracle’s Q4 Earnings Outshine Expectations
Oracle reported a double beat in its Q4 results, with revenue reaching approximately $19.18 billion, surpassing analyst estimates of around $19.10 billion. Adjusted earnings saw a 24% YoY growth, hitting $2.11 per share and beating analyst estimates of $1.96 per share.
However, investors were spooked after the software giant said it plans to spend $90 billion to $95 billion on capital expenditures in fiscal 2027 and raise roughly $40 billion through debt and equity financing, including a $20 billion share sale, to fund its AI expansion.
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SpaceX’s IPO Shatters Records
SpaceX made a historic debut with the largest IPO in history, raising $75 billion through the sale of 555.6 million primary shares. Shares opened at $150, reflecting a strong demand from both institutional and retail investors, well above the offering price of $135.
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Adobe’s Q2 Results Beat Estimates, CFO Steps Down
Adobe reported Q2 revenue of $6.62 billion, beating analyst estimates of $6.46 billion. The software company’s adjusted earnings of $5.96 per share also surpassed estimates of $5.82 per share. However, the company’s shares stumbled following the announcement of the CFO’s departure.
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Elon Musk’s Net Worth Soars Past $1 Trillion
Following SpaceX’s IPO, Elon Musk’s net worth soared past $1 trillion, marking a new era of wealth. Forbes estimates Musk’s worth at $1.1 trillion as of Friday, based on the $150 level for SpaceX stock.
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Paramount Secures DOJ Approval For Warner Bros. Discovery Deal
Paramount won key DOJ approval for its $110 billion Warner Bros. Discovery deal. The Justice Department found no evidence suggesting the merger would substantially reduce competition in the media and entertainment industry.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.