Oracle Corp. (NYSE:ORCL) posted better-than-expected results for the fourth quarter, after the closing bell on Wednesday.

Oracle reported fourth-quarter revenue of approximately $19.18 billion, beating analyst estimates of approximately $19.10 billion, according to Benzinga Pro. Adjusted earnings grew 24% year-over-year to $2.11 per share, beating analyst estimates of $1.96 per share.

"The large increases in Oracle's RPO and revenue are driven by the growing demand for cloud infrastructure for AI training and inferencing," the company said.

Also, the company announced it expects to raise approximately $40 billion through a combination of debt and equity financing.

Oracle guided for first-quarter revenue growth of 27% to 29%. Total cloud revenue is expected to grow between 57% and 63%. Adjusted earnings are expected to be between $1.72 and $1.76 per share in the first ...