By Daniel Howley
Publication Date: 2026-03-11 13:50:00
oracle (ORCL) The stock soared after the company on Tuesday beat Wall Street’s expectations for third-quarter sales and profit and raised its 2027 revenue forecast to $90 billion.
Shares rose as much as 14% in early trading on Wednesday.
The earnings announcement comes amid reports that the company has halted plans to expand an AI data center with OpenAI (OPAI.PVT) and is preparing to cut thousands of jobs.
The AI infrastructure company is spending tons of money on data centers, but investors aren’t entirely sold on the idea.
Oracle shares have fallen sharply. After reaching a high of $345.72 in September, the stock was trading at $149 as of Tuesday afternoon. Shares are down 54% in the last six months and 23% year-to-date.
For the quarter, Oracle reported earnings per share (EPS) of $1.79 on revenue of $17.19 billion, beating analysts’ expectations of $1.70 per share on revenue of $16.9 billion. The company reported $1.47…
