Oracle's cloud infrastructure revenue more than doubled and the stock went up a little bit. Not a lot. Just edged. Like when you're trying to parallel park and move forward three inches at a time while everyone behind you contemplates murder.
The company beat earnings expectations. The revenue backlog came in stronger than expected too. Nobody knows what revenue backlog actually means but analysts write it down on their little notepads and nod like it matters. It's money someone promised to pay later. Which is different from money. But we're calling it stronger than expected because Oracle said so and that's apparently good enough.
Cloud infrastructure revenue doubled. The stock edged. Not soared. Not surged. Edged. The revenue literally doubled and Wall Street responded by shrugging and adding half a percent to the share price. Imagine training for a marathon, running it in half your previous time, and your coach saying nice effort out there.
Retail traders saw the earnings beat and dove in headfirst because doubling sounds like a big number and big numbers mean buy button. They did not ask why infrastructure revenue doubled while the stock barely moved. They did not wonder if maybe the market already priced this in. They did not consider that professional investors with actual degrees looked at the same numbers and decided to edge.
The backlog is strong. The infrastructure doubled. The stock edged. Somewhere a day trader just put his kid's college fund into calls because he saw the word doubled and stopped reading. That kid's going to community college now, but at least Oracle's cloud infrastructure revenue more than doubled.
Photo by BoliviaInteligente on Unsplash
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