Oracle's cloud infrastructure revenue more than doubles as its contracted backlog reaches $664 billion
A backlog number has become the clearest single measure of how much AI computing the world has promised to buy.
Oracle said first-quarter revenue rose 30 percent to $19.3 billion, with cloud infrastructure revenue up 121 percent to $7.4 billion and total cloud revenue up 62 percent to $11.6 billion. Remaining performance obligations, the contracted work Oracle has not yet recognized as revenue, reached $664 billion, up $209 billion from a year earlier. Non-GAAP earnings were $1.92 a share, up 30 percent, and GAAP net income rose 63 percent to $4.76 billion.
Scripture for Reflection
“Instruct those who are rich in the present age not to be conceited and not to put their hope in the uncertainty of wealth, but in God, who richly provides all things for us to enjoy.”
We can hold our own forecasts loosely and rest our hope in God rather than in a number.
