Oracle’s Upbeat Quarter Calms Investors

Oracle managed to calm some frayed nerves on Wall Street on Tuesday. The cloud and software firm, which has become a focal point for investors’ anxiety about AI-related spending, reported slightly better than projected revenue for its February quarter. importantly, for the second time in two quarters, it raised its revenue projection for next fiscal year, which starts in June. Oracle now projects revenue in fiscal 2027 to rise 34%, than twice this year’s likely growth and four times its average top-line growth since 2021. Its battered shares rose 9% in after-hours trading.