reuters.com

Oracle Beats Estimates on AI Cloud Contracts and Lower Cash Burn

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Oracle reported first-quarter revenue of $19.3 billion, up 30%, and more than $30 billion in additional AI cloud contracts, lifting its revenue backlog to $664 billion. The company said most newly contracted revenue would need less cash for chips, helping keep its $90 billion–$95 billion spending target. Free cash flow was -$5.40 billion versus -$9.56 billion expected.

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