甲骨文(ORCL)股价受压下挫5.18% 市传正启动新一轮裁员

金吾财讯
Sep 14

金吾财讯 | 甲骨文(ORCL)盘中股价受压,最新报142.50美元,跌幅5.18%,成交额20.06亿美元。消息面上,外媒新近报道称,甲骨文已启动新一轮裁员,部分团队的裁员比例可能达到两位数。此次裁员此前已在内部酝酿,主要目的是降低薪资成本,以支持公司持续扩大的AI基础设施投资。本轮裁员前公司员工规模约为14.1万人。机构评级方面,摩根士丹利新近研报维持甲骨文“中性”评级和210美元目标价。该机构指,甲骨文此前交出了一份近乎无可挑剔的2027财年第一季度财报:营收193.5亿美元,同比增长30%;云基础设施(OCI)营收74亿美元,同比激增121%;单季新增AI云合同超过300亿美元;剩余履约义务(RPO)飙升至6640亿美元,同比暴增2090亿美元。但是,AI基础设施业务的毛利率尚未证明能够达到公司传统软件业务的高水平,且当云基础设施收入占比持续上升时,整体毛利率的结构性下行压力将不可避免。同时,该机构提到,甲骨文当季资本支出飙升至285亿美元,较去年同期的85亿美元增长超过两倍。自由现金流从去年同期的负3.62亿美元急剧恶化至负54亿美元。公司债务规模已达1250亿美元。而管理层仍预计2027财年净资本支出约700亿美元,远高于上一财年的557亿美元。摩根士丹利表示,AI基础设施业务的毛利率和自由现金流转化,是决定甲骨文估值能否从“中性”转向“增持”的关键变量。

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