Recent events

Oracle Japan reports record fiscal first-quarter sales and profits; shares surge 7%

Oracle Japan reported record fiscal first-quarter results on Thursday: net sales for the June-August quarter rose 13% from a year earlier to 74.86 billion yen ($472 million), operating profit jumped 22.7% to 25.92 billion yen, and net profit climbed 23.2% to 18.25 billion yen, all record highs for a fiscal first quarter. Cloud revenue jumped 31.7% year on year to 25.14 billion yen. The company maintained its full-year outlook for sales growth of 6-10% and said it plans to expand its sovereign cloud offering and strengthen its AI solutions in Japan. Its Tokyo-listed shares surged more than 7% on Friday after the announcement, while U.S.-listed Oracle shares fell more than 3% overnight.