:Oracle on Tuesday forecast revenue for fiscal 2025 to grow in double digits, above analysts' estimates, indicating strong demand for its AI-powered cloud services, sending the company's shares up 9 per cent after the bell.
FILE PHOTO: A screen displays the logo and trading information for Oracle Corporation on the floor of the New York Stock Exchange in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid/File Photo:Oracle on Tuesday forecast revenue for fiscal 2025 to grow in double digits, above analysts' estimates, indicating strong demand for its AI-powered cloud services, sending the company's shares up 9 per cent after the bell.
"In Q4 alone, Oracle signed over 30 AI sales contracts totaling more than $12.5 billion, including one with OpenAI to train ChatGPT in Oracle Cloud." Oracle reported total revenue growth of 6 per cent for fiscal 2024. For FY25, analysts expect 9 per cent growth.
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