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Title: Oracle's Best Day Since 1992 Puts Ellison on Top of the World's
Richest List

Link: https://developers.slashdot.org/story/25/09/1...

Oracle shares had their best day since 1992, skyrocketing 36% and adding $244
billion in market value as surging AI-driven cloud demand pushed the company
toward a $1 trillion valuation. The surge boosted founder Larry Ellison's
fortune by $100 billion, making him the new world's wealthiest person. CNBC
reports: The company said Tuesday after the bell that it has $455 billion in
remaining performance obligations, up 359% from a year earlier. "This is a
very historic kind of print right here from Oracle with this backlog," Ben
Reitzes, technology research head at Melius Research, told CNBC's "Closing
Bell: Overtime" on Tuesday. "The Street was looking for about $180 billion in
RPO and they're talking about a number that is a multiple of that. That is
astounding." Oracle now sees $18 billion in cloud infrastructure revenue in
fiscal 2026, with the company calling for the annual sum to reach $32
billion, $73 billion, $114 billion and $144 billion over the subsequent four
years. Other analysts were left "blown away" and "in shock." D.A. Davidson's
Gil Luria called it "absolutely staggering on CNBC's "Fast Money." Wells
Fargo analysts said it was a "momentous confirmation" of the AI trade.
Oracle's cloud revenue projections overshadowed an otherwise lackluster
fiscal first-quarter report in which the company missed expectations on the
top and bottom lines. The company had earnings of an adjusted $1.47 per share
for the quarter, just below the $1.48 per share expected by analysts polled
by LSEG. Revenue for the first quarter came in at $14.93 billion, missing the
$15.04 billion expected.

Read more of this story at Slashdot.

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