Oracle Corporation (NYSE:ORCL) reported on September 10 that its revenue rose 30% in the fiscal first quarter, driven by a 121% jump in cloud infrastructure revenue. Cloud infrastructure is the business that rents computing power to AI companies. The company also said its remaining performance obligations, which are the value of contracts it has signed but not yet delivered, reached $664 billion, more than seven times the revenue it expects this year. On the back of that backlog, Oracle raised its full-year revenue outlook to at least $90 billion. CFO Hilary Maxson said that if she had to describe the quarter in one word, it would be "acceleration."Oracle (ORCL) Cloud Revenue Jumps 121% and Its Backlog Hits $664 Billion. Can It Actually Deliver?
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