Larry Ellison, chairman and chief technology officer of Oracle, speaks on the Oracle OpenWorld conference in San Francisco on September 16, 2019.
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oracle Shares rose 8% in prolonged trading on Monday after the database software provider reported fiscal first-quarter results that beat Wall Street estimates.
Here’s how the corporate performed in comparison with the LSEG consensus:
- Earnings per share: $1.39 adjusted vs. $1.32 expected
- Revenue: $13.31 billion in comparison with expected $13.23 billion
Oracle’s revenue rose 8% from $12.45 billion a yr earlier, in accordance with a opinionNet income rose to $2.93 billion, or $1.03 per share, from $2.42 billion, or 86 cents per share, within the year-ago quarter.
The company said its cloud services and license support business generated revenue of $10.52 billion, up 10 percent from the previous yr and above the Street Account consensus of $10.47 billion.
Oracle’s cloud and on-premises licensing segment reported revenue of $870 million, up 7% and exceeding the $757.6 billion forecast by StreetAccount.
Cloud infrastructure revenue was $2.2 billion, up 45 percent, an acceleration from the previous quarter, when revenue grew 42 percent.
During the quarter, Oracle announced the opening of a second cloud region in Saudi Arabia and said its database software might be available through Google’s public cloud.
In a separate statement on Monday, Oracle said said It would enter right into a partnership with the market leader in cloud infrastructure Amazon Web Services to enable its database services on dedicated hardware.
Excluding after-hours movement, Oracle stock has gained about 34% to this point this yr, while the S&P 500 stock index has gained about 15%.
Executives will provide guidance and discuss results with analysts in a conference call starting at 5:00 p.m. ET.
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