Oracle shares plunge over 13% despite strong Q4 earnings
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Oracle reported better-than-expected earnings and revenue for its fiscal fourth quarter.
Oracle (ORCL) reported fourth quarter results on Wednesday after the closing bell. Adjusted earnings per share (EPS) came in at $2.11 (compared to analyst estimates of $1.97), and adjusted revenue came in at $19.
The cloud company's backlog has become a key gauge of AI demand.
Add Yahoo as a preferred source to see more of our stories on Google. According to reports, Oracle to layoff thousands in order to fund AI expansion.