Oracle earnings miss, stock jumps on Google Cloud, OpenAI deals
Oracle (ORCL) reported fourth quarter results that missed Wall Street estimates.
Adjusted earnings of $1.63 per share fell short of the expected $1.65. Adjusted revenue of $14.29 billion missed the estimate of $14.57 billion. However, the company announced a new partnership with Google Cloud (GOOG, GOOGL) and that OpenAI has selected its Oracle Cloud Infrastructure "to extend" Microsoft's Azure AI platform (MSFT).
Yahoo Finance's Julie Hyman and Josh Lipton break down the tech giant's quarterly results.
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This post was written by Stephanie Mikulich.