Oracle's Earnings: Crypto & Tech Markets Plunge
Update: 2025-12-11
Description
Oracles lackluster earnings report, coupled with the Federal Reserves cautious outlook, is causing a downturn in financial markets, including cryptocurrencies and tech stocks. Bitcoin is trading near $90,000, down by 2.8% in the past 24 hours, while Nasdaq futures are down by 0.80%. Oracles revenue missed expectations, with weakness in new license sales and a decline in older software revenue. The companys long-term debt grew by 25% to nearly $100 billion, and cloud infrastructure revenue was below expectations. Oracles shares dropped over 10% in after-hours trading, dragging down other AI-related stocks and renewing discussions about the companys credit default swaps, which have reached their highest level since 2022.
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