Weekend Round-Up: SpaceX's Historic IPO, Musk's Trillionaire Status, Paramount's Major DOJ Approval And More

This week was a whirlwind of activity in the business world. From Oracle’s impressive Q4 results to SpaceX’s record-breaking IPO, there was no shortage of exciting news. Let’s dive into the details.

Oracle’s Q4 Earnings Outshine Expectations

Oracle reported a double beat in its Q4 results, with revenue reaching approximately $19.18 billion, surpassing analyst estimates of around $19.10 billion. Adjusted earnings saw a 24% YoY growth, hitting $2.11 per share and beating analyst estimates of $1.96 per share.

However, investors were spooked after the software giant said it plans to spend $90 billion to $95 billion on capital expenditures in fiscal 2027 and raise roughly $40 billion through debt and equity financing, including a $20 billion share sale, to fund its AI expansion.

Read the full article here.

SpaceX’s IPO Shatters Records

SpaceX made a historic debut with the largest IPO in history, raising $75 billion through the sale of 555.6 million primary shares. Shares opened at $150, reflecting a strong demand from both institutional and retail investors, well above the offering price of $135.

Read the full article here.

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Adobe’s Q2 Results Beat Estimates, CFO Steps Down

Adobe reported Q2 revenue of $6.62 billion, beating analyst estimates of $6.46 billion. The software company’s adjusted earnings of $5.96 per share also surpassed estimates of $5.82 per share. However, the company’s shares stumbled following the announcement of the CFO’s departure.

Read the full article here.

Elon Musk’s Net Worth Soars Past $1 Trillion

Following SpaceX’s IPO, Elon Musk’s net worth soared past $1 trillion, marking a new era of wealth. Forbes estimates Musk’s worth at $1.1 trillion as of Friday, based on the $150 level for SpaceX stock.

Read the full article here.

Paramount Secures DOJ Approval For Warner Bros. Discovery Deal

Paramount won key DOJ approval for its $110 billion Warner Bros. Discovery deal. The Justice Department found no evidence suggesting the merger would substantially reduce competition in the media and entertainment industry.

Read the full article here.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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