Oracle shares jumped more than 6% after the software giant beat Wall Street's fiscal first-quarter estimates on both earnings and revenue. Cloud infrastructure revenue more than doubled, well ahead of analyst forecasts.
Oracle climbed more than 6% after topping Wall Street's expectations in its fiscal first quarter. The software giant earned $1.92 per share on an adjusted basis, compared with the $1.74 per share analysts polled by LSEG had forecast.
Revenue also cleared the bar. Oracle posted $19.35 billion in revenue for the quarter, ahead of the $19.14 billion consensus estimate compiled by LSEG. Both figures came in above what analysts had penciled in heading into the report.
Oracle's cloud infrastructure business also grew. Revenue from that unit more than doubled to $7.4 billion, above the $7.09 billion Wall Street had penciled in for the segment. Oracle was one of several companies moving before Thursday's open on earnings, alongside GameStop, National Beverage, Kroger, Adobe, Copart and RH.
Source: CNBC
Trading involves risk.
Risk Disclaimer
