Oracle Corp - ORCL STOCK NEWS

Oracle has launched its first cloud region in the Nordics, specifically in Stockholm, to cater to the rising demand for cloud services among private and public sectors. This new region is part of Oracle's expansion plan, aiming for at least 44 cloud regions globally by the end of 2022. The Stockholm facility is designed to support local organizations in managing critical data and applications, enhancing performance and reducing operational costs. Furthermore, it emphasizes sustainability by operating entirely on renewable energy, aligning with Oracle's commitment to powering all cloud regions with 100% renewable energy by 2025.

A survey from Oracle Food and Beverage reveals that while Americans embrace tech-driven food ordering options, it has led to increased impatience. Key findings include that 64% of respondents refuse to wait more than five minutes at a counter or drive-thru, while 71% are unhappy with waits over ten minutes in-house. Notably, 47% believe delivery orders prolong in-person wait times. Despite this impatience, 46% plan to dine out frequently soon, indicating loyalty to their favorite brands. The survey involved over 5,700 global consumers, including 512 from the U.S., and reflects evolving dining preferences.

Oracle announced that Wipro will utilize Oracle Cloud Infrastructure (OCI) for its Cargo Reservations, Operations, Accounting and Management Information System (CROAMIS). This partnership aims to modernize the air cargo sector, addressing rising demand for efficient cargo transportation. Wipro will offer CROAMIS as part of its FullStride Cloud Services, leveraging OCI's superior performance, security, and cost-effectiveness. The application will facilitate automation across various air cargo processes, enhancing operational efficiency and reducing costs.

Oracle Corporation (NYSE: ORCL) reported Q2 fiscal 2022 revenues of $10.4 billion, a 6% increase year-over-year. Cloud services and license support revenues also rose by 6% to $7.6 billion, while cloud and on-premise license revenues surged 13% to $1.2 billion. However, GAAP results showed an operating loss of $824 million attributed to a legal judgment, impacting earnings per share (EPS) to $0.46. Non-GAAP EPS improved 14% to $1.21, exceeding guidance. The board approved a $10 billion share repurchase program and declared a $0.32 quarterly dividend.

Oracle Corporation has announced the release date for its second quarter fiscal year 2022 results, which will be on December 9th after market close. A conference call and live webcast to discuss these results will be held at 4:00 p.m. Central Time. Investors can access the webcast via the Oracle Investor Relations website. The announcement emphasizes Oracle's integrated applications and cloud infrastructure services, reinforcing its position in the technology market.

Oracle's latest Retail survey reveals that holiday shopping is lagging, with 66% of Americans less than halfway done. This contrasts with a September survey where 52% had started shopping. Concerns over supply chain issues are prevalent, particularly regarding Christmas trees, with 22% fearing scarcity and high costs. The survey indicates a potential surge in retail activity post-Thanksgiving. Key findings include that 30% of respondents have done minimal shopping, and 18% report higher prices due to supply chain disruptions.

A recent survey reveals that 23% of Americans have started shopping for Thanksgiving groceries early due to ongoing supply chain issues, with 35% planning to shop sooner than usual. Concerns about turkey availability and pricing were noted, with 20% worried they may not find the right size or type. Despite challenges, 70% of respondents intend to cook at home, with a mix of in-store and online grocery shopping. Oracle emphasizes the need for retailers to adapt to changing consumer behaviors to manage inventory effectively during this holiday season.

Oracle announced that SoundHound Inc has chosen Oracle Cloud Infrastructure (OCI) as its strategic cloud provider to support its voice AI platform. This partnership aims to enhance performance and reduce costs as SoundHound processes billions of queries, with the number of monthly queries expected to exceed 1 billion in 2021 alone. The migration to OCI will aid SoundHound's global expansion and boost service availability to customers. Notably, SoundHound has doubled its query traffic to over 100 million in six months, emphasizing its rapid growth.