Oracle earnings preview: will the ‘Netflix of AI’ deliver?
Oracle earnings are due out later with Wall Street expecting earnings of $1.32 per share, which would be a 9% increase on the same quarter last year. Revenue is also anticipated to rise by 6.3% to $13.06 billion.
Like many, Oracle has joined the Artificial Intelligence (AI) race – and it wants to play a major role. At the start of the year, Oracle's vice-president of AI and data science services said it wanted to become "the Netflix of AI" by allowing companies to bring the best AI software and hardware to Oracle Cloud Infrastructure. IGTV’s Angela Barnes has this preview.
(AI Video Transcript)
Oracle's earnings per share
Oracle plans to become a leader in the artificial intelligence (AI) market. Analysts predict that Oracle's earnings per share will increase by 9% from last year, with revenue projected to rise by 6.3%. This growth is primarily driven by the increasing popularity of its cloud services and license support. For example, their cloud services segment is expected to see a revenue growth of 24.7%.
Oracle is eager to grab a slice of the expanding AI market and wants to be known as the "Netflix of AI" by offering top-quality AI software and hardware on its tastylive Cloud Infrastructure. They are serious about their goal and recently announced a partnership with Microsoft to bolster their AI services. This collaboration will help Oracle capture more market share and take advantage of the growing demand for AI services.
Oracle's AI ambitions
Investors seem to have confidence in Oracle's AI ambitions, as their stock price has risen around 40% this year. This increase reflects investor optimism about Oracle's ability to compete in the AI market and potentially become a dominant player.
Overall, Oracle is expected to announce higher earnings and revenue, driven by the success of its cloud services. The company is positioning itself to be a major player in the AI market and aims to offer the best AI software and hardware on tastylive Cloud Infrastructure. The recent partnership with Microsoft further strengthens Oracle's position in the AI services market. Investors are optimistic about Oracle's prospects in the AI space, which is evident from the significant rise in its share price.
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