After reporting 30% revenue growth fueled by AI cloud demand, Oracle jumps 6%

TL;DR

Oracle surges as strong AI-led demand drives FQ1 beat, profit guidance hike Oracle's shares jumped in premarket trading on Friday after it reported 30% revenue growth in its fiscal first quarter, fueled by strong demand for its cloud services and rapid data center expansion. Oracle was last up 6.2% in premarket trading, but the stock has declined 21.5% since the beginning of the year. The company delivered an additional 850 megawatts of data center capacity in the quarter.