Oracle shares dropped 8% on Tuesday and headed for their steepest drop in a year following the database software vendor's disappointing earnings report. After the close on Monday, Oracle reported earnings per share for the fiscal second quarter of $1.47, trailing analysts' average estimate by a penny, according to LSEG. Oracle's biggest growth engine has been cloud infrastructure, where it is competing with Amazon , Microsoft and Google as businesses move workloads out of their own data centers. Oracle said revenue in its cloud infrastructure unit soared 52% from a year earlier to $2.4 billion. "Oracle Cloud Infrastructure trains several of the world's most important generative AI models because we are faster and less expensive than other clouds," Oracle founder Larry Ellison said in a statement.

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Persons: Larry Ellison, Piper Sandler, Oracle's cRPO Organizations: Oracle Corp, Oracle, KeyBank, Amazon, Microsoft, Google, Meta, Oracle Cloud Infrastructure Locations: San Francisco , California, U.S, LSEG