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Oracle Q4 Earnings Miss Estimates, Revenues Rise Y/Y

Oracle (NYSE: ORCL) reported fourth-quarter fiscal 2024 non-GAAP earnings of $1.63 per share, which missed the Zacks Consensus Estimate by 1.83% and declined 2.4% year over year. At constant currency (cc), earnings decreased 1% year over year. Revenues rose 3.3% (up 4% at cc) year over year to $14.28 billion but missed the Zacks Consensus Estimate by 0.61%. Shares of ORCL gained more than 9% in extended trading after the company gave upbeat guidance and announced cloud partnerships with OpenAI and Alphabet (NASDAQ: GOOGL)-owned Google. Shares moved higher despite weaker-than-expected fiscal fourth-quarter earnings and sales. The new offering, Oracle Database@Google Cloud, will be available later this year with the highest level of Oracle database and network performance, along with feature and pricing parity with Oracle Cloud Infrastructure ("OCI"). Revenues from the Americas increased 4.3% year over year to $8.94 billion and accounted for 62.6% of total revenues. Europe/Middle East/Africa climbed 2.4% year over year to $3.53 billion and contributed 24.8% of total revenues. The remaining revenues came from Asia Pacific, which remained flat year over year at $1.8 billion. Oracle Corporation Price, Consensus and EPS Surprise Oracle Corporation price-consensus-eps-surprise-chart | Oracle Corporation Quote Top-Line Details Cloud services and license support revenues increased 9% year over year (10% at cc) to $10.23 billion, driven by strategic cloud applications, autonomous database and OCI. Cloud license and on-premise license revenues declined 15% year over year (down 14% at cc) to $1.83 billion. Cloud revenues (IaaS plus SaaS), including Cerner, came in at $5.3 billion, up 20% year over year and in cc. Cloud Infrastructure (IaaS) revenues came in ...