Oracle Is (ORCL) Down Despite Revealing $638 Billion Worth Of Orders, Is The Market Wrong On This One?
Summary
Oracle reported strong quarterly results and disclosed a large jump in Remaining Performance Obligations to $638 billion. The company also won a $395.8 million U.S. Office of Personnel Management contract to build a government-wide HR platform on Oracle Fusion Cloud HCM. That platform is set to replace more than 100 separate HR systems across federal agencies and centralize workforce data and HR operations. Oracle also guided for strong next-quarter revenue and cloud growth, reinforcing the scale of its cloud momentum.
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