Oracle expects half a trillion dollars in booked cloud orders, stock rises 27%
Oracle said on Tuesday it expects booked revenue at its Oracle Cloud Infrastructure business to exceed half a trillion dollars, boosted by growing demand for its relatively low-cost cloud infrastructure services and sending its shares up 27% after the bell.
The company’s remaining performance obligations, or RPO, the most popular measure of booked revenue, jumped 359% to $455 billion in the first quarter, ended August 31.
