Oracle Earnings Beat Estimates, Shares Fall on Cloud Concerns

Oracle Corp. posted its fourth quarter earnings on Wednesday, with shares falling in after-hours trading due to the company's cloud applications and infrastructure revenue missing Wall Street expectations, despite an overall record quarter. The Austin-based AI infrastructure and technology company reported earnings per share of $2.11 on revenue of $19.18 billion, surpassing expectations of $1.97 per share on $19.09 billion in revenue. However, Oracle's cloud business, which includes cloud applications and cloud infrastructure, reported revenue of $9.91 billion, falling short of the expected $9.99 billion. Shares fell more than 6% after earnings were posted following Wednesday's bell.