Oracle boosts cloud infrastructure revenue forecast, shares jump 23%

Mădălin Mihai

Oracle said on Tuesday it expects revenue in its Oracle Cloud Infrastructure business to grow 77 per cent this year, from earlier projections of 70 per cent, boosted by growing cloud demand and sending its shares up 23 per cent after the bell. The company forecasts OCI revenue to rise 77 per cent to $18 billion this fiscal year and on to $144 billion over the subsequent four years. Oracle also said it had signed four multi-billion-dollar contracts with three different customers in the first

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