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Oracle Corp. started September by making headlines for layoffs. Then, on Tuesday, September 9, it reported first-quarter financial results that missed the mark for revenue and earnings. Yet, you wouldnt guess any of this based on how its stock has rallied. The software companys shares (NYSE:ORCL) rose over 32% through after-hours and into premarket trading on Wednesday. The boost comes down to Oracles revenue projections rather than the lackluster results for fiscal year (FY) 2026s first quarter. The company predicts that Oracle Cloud Infrastructures entire FY 2026 revenue will reach $18 billiona 77% jump year-over-year (YOY). Thats just the start. Oracle further expects revenue for its cloud infrastructure business to reach $32 billion in 2027, $73 billion the following year, and $114 billion and $144 billion in 2029 and 2030, respectively. ‘The who’s who of AI’ Oracle signed four multibillion-dollar contracts during quarter one, stemming from three different customers, it said. CEO Safra Catz stated in the report that the company expects to sign several more multibillion-dollar customers over the next few months. Then there was the July announcement that Oracle is teaming up with OpenAI to create 4.5 gigawatts of Stargate data center capacity in the U.S. Clearly, we had an amazing start to the year because Oracle has become the go-to place for AI workloads. We have signed significant cloud contracts with the who’s who of AI, including OpenAI, xAI, Meta, Nvidia, AMD, and many others, Catz said in an earnings call. At the end of Q1, Remaining Performance Obligations, or RPO, now top $455 billion. This is up 359% from last year and up $317 billion from the end of Q4. Our cloud RPO grew nearly 500% on top of 83% growth last year. Catz predicted that Oracles RPO will likely surpass $500 billion in the coming months. So with these developments in mind, investors dont seem bothered by Oracle reporting $14.93 billion in quarter one revenue, falling short of Wall Streets predicted $15.04 billion, according to consensus estimates cited by CNBC. There was also a slight miss in earnings per share, reaching $1.47 adjusted, rather than the $1.48 expected. Oracle Cloud Infrastructures tremendous predicted growth further overshadowed recent layoffs, which were reported by local outlets in the San Francisco Bay Area, Seattle, Kansas City, and elsewhere.
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Global shares mostly rose Wednesday, echoing record rallies on Wall Street after the latest update on the job market bolstered hopes the U.S. Federal Reserve will cut interest rates.France’s CAC 40 rose 0.8 in early trading to 7,809.80. Germany’s DAX edged up 0.6% to 23,856.74. Britain’s FTSE 100 rose 0.2% to 9,263.14. U.S. shares were set to be mixed with Dow futures down 0.1% at 45,700.00, while S&P 500 futures gained 0.3% at 6,537.75.Japan’s benchmark Nikkei 225 gained 0.9% to finish at 43,837.67. Australia’s S&P/ASX 200 added 0.3% to 8,830.40. South Korea’s Kospi jumped 1.7% to 3,314.53.Hong Kong’s Hang Seng rose 1.0% to 26,200.26, while the Shanghai Composite edged up 0.1% to 3,812.22. Uncertainty is still in the air over U.S.-China tariff issues as bilateral talks continue.U.S. President Donald Trump has raised taxes on imports from China, triggering a tit-for-tat tariff war. The U.S. is currently charging an additional 30% tariff on Chinese goods and China is charging a 10% tariff under a de-escalation deal reached in May.Investors are also watching for the U.S. Federal Reserve possibly cutting its main interest rate for the first time this year at its next meeting in a week, in order to prop up the slowing job market. A report on Tuesday offered the latest signal of weakness, when the U.S. government said its prior count of jobs across the country through March may have been too high by 911,000, or 0.6%.That was before President Donald Trump shocked the economy and financial markets in April by rolling out tariffs on countries worldwide.The bet on Wall Street is that such data will convince Fed officials that the job market is the bigger problem now for the economy than the threat of inflation worsening because of Trump’s tariffs. That would push them to cut interest rates, a move that would give the economy a boost but could also send inflation higher.“The broader narrative is increasingly anchored on expectations that the Fed will deliver a rate cut at next week’s meeting,” said Ahmad Assiri, research strategist at Pepperstone.In energy trading, benchmark U.S. crude added 58 cents to $63.21 a barrel. Brent crude, the international standard, rose 56 cents to $66.95 a barrel.The rise in oil prices came amid escalation of tensions in the Middle East. Israel struck the headquarters of Hamas’s political leadership in Qatar on Tuesday as the group’s top figures gathered to consider a U.S. proposal for a ceasefire in the Gaza Strip.In currency trading, the U.S. dollar inched up to 147.53 Japanese yen from 147.37 yen. The euro fell to $1.1695 from $1.1714. Yuri Kageyama is on Threads Yuri Kageyama, AP Business Writer
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E-Commerce
Today, one of the most closely watched fintech initial public offerings of the year takes place. Shares of the buy now, pay later (BNPL) juggernaut Klarna Group make their stock market debut. Heres everything you need to know about Klarnas IPO. What is Klarna? Klarna Group is a Swedish fintech company founded in 2005. It’s headquartered in Stockholm. Klarna is one of the largest players in the buy now, pay later (BNPL) space, which has revolutionized the consumer financial landscape over the past few years. BNPL allows consumers to buy itemseverything from computers to burritosin installments, instead of paying a single total fee upfront. The installments are repaid over a period of weeks or months and are interest-free, provided payments are made on time. But while BNPL services allow consumers to fund purchases they may not otherwise be able to afford upfront, the financing option has been met with much criticism, one of the biggest ones being that BNPL can be a debt trap to consumers, particularly younger Gen Z ones who dont have a lot of experience in financial planning or literacy. Klarna by the numbers According to Klarnas Form F-1 filing with the U.S. Securities and Exchange Commission (SEC), the companys key metrics include: Gross merchandise volume (GMV) of $105 billion in 2024 (up from a GVM of $53 billion in 2020). Operations in 26 global markets. 93 million active consumers. A network of 675,000 merchants. $2.8 billion in total revenue in 2024 (up from $2.2 billion in total revenue in 2023). Net profit of $21 million in 2024 (up from a net loss of $244 million in 2023). !function(){"use strict";window.addEventListener("message",function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}})}(); When is Klarnas IPO? Klarnas IPO has been a long time coming. The company announced its intention to make its stock market debut in March of this year. But shortly after, President Trumps Liberation Day tariffs wreaked havoc on markets, causing Klarna to postpone its public offering plans. But earlier this month, Klarna began announcing details of its postponed IPO, suggesting a date was near. Klarna priced its shares on Tuesday and is expected to list today: Wednesday, September 10. What is Klarnas stock ticker? Klarnas shares will trade under the ticker KLAR. What exhcnage will Klarna trade on? Klarna shares will trade on the New York Stock Exchange (NYSE). What is the IPO share price of KLAR? Klarnas shares were priced at $40 each. Thats well above a target price range of between $35 and $37 that the company originally forecast. How many KLAR shares are available in its IPO? In total, there are 34,311,274 ordinary shares of KLAR available in the IPO. However, a majority of those shares are not being offered by the company itself. As a matter of fact, just 5 million ordinary shares are being sold by Klarna. The remaining 29.3 million shares are being sold by some of the companys existing shareholders. How much will Klarna raise in its IPO? Klarnas IPO raised $1.37 billion, according to Reuters. However, Klarna itself will not benefit from that total sum as the companys existing private shareholders sold a majority of the shares on offer. As Klarna stated in a press release, Klarna will not receive any proceeds from the sale of ordinary shares by the selling shareholders. How much is Klarna worth? Klarna is now worth around $15.11 billion after its IPO price of $40 per share, according to Reuters. While that valuation is nothing to sneeze at, it is still well below Klarnas estimated valuation of more than $45 billion back in 2021. Niklas Kammer, an analyst for Morningstar, sees a 12.5% upside to Klarna’s IPO price, according to a recent note. “We believe the offer price of USD 40 per share undervalues the substantial growth we expect these agreements to drive,” Kammer wrote, citing agreements with payment service providers that will expand Klarna’s reach. “Growth is what it is all about for Klarna. While its platform is currently just breaking even, starting to eke out a marginal operating profit, the company is poised for a big shift.” Klarna is the latest high-profile tech IPO in 2025 While Klarnas stock market debut will no doubt be closely watched by industry insiders and investors today, the tech company is by no means the only high-profile one to go public this year. Other major tech IPOs in 2025 have included Chime, Circle, Figma, eToro, and Bullish. In fact, Klarna isn’t even the only tech-focused company going public this week; others include Via Transportation, Legence Corp, and Gemini Space Station. Yet despite the relative success that some tech IPOs have enjoyed this year, the global tech IPO scene in 2025 is currently a far cry from the busy landscape a few years ago. Recent ata from CB Insights shows that in the second quarter of 2025, global tech IPOs generated $6.3 billion in proceeds. But that pales in comparison to the $34.9 billion that tech IPOs generated in the same quarter of 2021. That also happens to be the same time that Klarna had its sky-high valuation of over $45 billionthree times higher than now. Disclosure: Fast Company is owned by Morningstar founder Joe Mansueto.
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