Oracle Stock Jumps as Cloud Revenue Climbs. Is It Too Late to Buy the Stock?

Once considered the after-ran of the cloud computing industry behind the big three players in the industry, Oracle (NYSE: ORCL) showed with its fiscal first-quarter results that it, too, is benefiting from the boom in artificial intelligence (AI) spending.Let's take a close look at the company's most recent results and how it is benefiting from AI.Oracle's overall fiscal Q1 revenue rose 7% to $13.3 billion, but it was the 21% jump in cloud service revenue to $5.6 billion that got investors excited. Within the cloud segment, cloud infrastructure revenue soared 45% to $2.2 billion in the quarter ended Aug. 31, while cloud application revenue climbed 10% to $3.5 billion. OCI (Oracle Cloud Infrastructure) consumption revenue, meanwhile, was up 56%, with the company saying demand outstripped capacity. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool