Oracle Stock Explodes 40% After CEO Says Company Expects Over Half A Trillion Dollars In Booked Cloud Orders
Synopsis
Oracle CEO Safra Catz said on Tuesday that the company had signed four multi-billion-dollar contracts in the first quarter.
Oracle Corp. (ORCL) shares skyrocketed by nearly 40% in Wednesday’s opening trade after CEO Safra Catz said she expects booked cloud orders to exceed half a trillion dollars.
Catz said on Tuesday that the company had signed four multi-billion-dollar contracts in the first quarter. The company reported a 359% increase in its RPOs to $455 billion. Remaining performance obligation, or RPO, is a key metric of future revenue potential.
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