Jim Cramer believes: “This last quarter was a big win for Oracle”

Oracle Corporation (NYSE:ORCL) is one of the Stocks Jim Cramer looked at. Citing the company’s “tremendous quarter,” Cramer commented:

Last night we got this great quarterly result from Oracle that allowed the stock to rise 9% today even as the market turned, and that was a very pleasant surprise…Oracle turned out the lights. Not only did they deliver a sizable top-line increase with 22% revenue growth, but all divisions also delivered better-than-expected sales except hardware, which is their smallest unit… At least for the next 10 months, we don’t have to worry about the company racking up more debt to pay for the expansion of its AI data center. That’s a very big win… Speaking of the backlog, Oracle mentioned that most of the increase in their remaining commitments, their bookings, “are related to large-scale AI contracts, where Oracle does not expect to need to raise additional funds to support these contracts, as the majority of the equipment required…”