Oracle beats quarterly revenue estimates on cloud growth

Oracle Corporation surpassed Wall Street revenue expectations for the third quarter on Tuesday, as robust demand for cloud computing services, fueled by the artificial intelligence boom, helped the company compete against larger industry rivals. The company reported total revenue of $17.19 billion for the quarter, exceeding the average analyst estimate of $16.91 billion according to data compiled by LSEG. This financial performance highlights the growing importance of AI infrastructure in the technology sector. The report was filed from Mexico by Juby Babu and edited by Alan Barona.