by Bryce Elder at Financial Times
Oracle has been the stock market story of the week. The maker of database and enterprise management software has a habit of missing on earnings and beating on order intake, but nothing like this:
At the close of its fiscal fourth quarter, ending June, Oracle’s remaining performance obligation (RPO), its term for customer contract bookings, stood at $138bn. Netting off orders delivered in the period implies Oracle took in $332bn of new business in the following three months.
The “astonishing quarter” was thanks to three customers signing four “multi-billion-dollar contracts”, CEO Safra Catz said. Neither she nor founder Larry Ellison would be drawn on the conference call to discuss how much was from one customer, OpenAI, which announced a Stargate data centre deal with Oracle in late June.