The software giant shocked investors with its fiscal first-quarter report. That report showed remaining performance obligations—contracted revenue not yet recognized—more than tripling from three months ago to $455 billion. Just as shocking was Oracle’s claim that it has even more multibillion-dollar deals in the pipeline that will soon take that number past half a trillion.
The projection strongly suggests the 48-year-old company that is already one of the world’s largest software providers could more than double its total revenue over the next three years.
That has shades of AI chip titan Nvidia — which quickly transformed from a niche supplier of videogaming chips into the world’s only company worth more than $4 trillion. Oracle’s stock—up 45% already this year—surged another 40% Wednesday morning, putting the company’s market cap around $950 billion.
The stock hasn’t seen such a big single-day gain since the 1990s, according to FactSet data.
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