Oracle Stock Soars Despite Missing Q1 Estimates: Here's Why

1. Oracle's Q1 earnings of $1.47 missed estimates by one cent. 2. Quarterly revenue was $14.92 billion, missing expectations of $15.03 billion. 3. MultiCloud revenue grew an impressive 1,529% in the first quarter. 4. RPO contract backlog surged 359% to $455 billion, indicating strong demand. 5. Oracle expects significant revenue growth in upcoming quarters, aiming for $18 billion this year.