"Backlog is at a healthy level and that we have the operational and financial strength to execute successfully,"
"While we continue to experience significant and unprecedented demand for our cloud services, we will pursue further business expansion, only when it meets our profitability requirements, and the capital is available on favorable terms."
"We follow a very rigorous process before accepting customer contracts,"
"This process ensures that we have all the necessary ingredients delivered to customer success at margins that make sense for our business."
Oracle announced it will spend $15 billion more than expected next year to expand data centers and other infrastructure to support AI. The company cited a $500bn deal with OpenAI over five years as part of rising investment. Oracle reported a healthy order backlog and said it will only pursue further cloud expansion when profitability and favorable capital terms are met. Oracle signed an additional $68bn in contracts last quarter. Future cloud contracts were $523bn, slightly below estimates of $526bn. Quarterly revenue was $16bn, up 13%, with net income rising 95% to $6.14bn, and cloud revenue grew 33% to $8bn.
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