Oracle's Q3 2024 earnings report showed a 7% revenue increase to $13.3B, beating estimates, with cloud revenues up 25% and AI demand driving growth.

Oracle's Q3 2024 earnings report revealed a 7% revenue increase to $13.3 billion, outpacing the expected $13.306 billion. Earnings per share (EPS) also beat estimates at $1.41 versus $1.38. Total cloud revenues rose 25%, with cloud infrastructure revenues increasing 49%. Oracle's AI demand has driven strong growth, leading to a "hypergrowth phase" for the cloud infrastructure business. Shares rose 11% following the announcement.

March 11, 2024
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