Early trading indicated an 8% pre-market decline in Oracle shares after quarterly figures missed Street expectations. Revenue landed at $13.1 billion, while profit was $2.32 billion, as cloud acceleration failed to fully offset softness elsewhere. Management reiterated multiyear runway in infrastructure and applications, but investors weighed near-term growth pacing against elevated competition. Sell-side notes highlighted the importance of backlog conversion and margins as capex for AI-ready data centers rises. Options markets priced pronounced event risk, with traders eyeing guidance and bookings color for direction at the open.