Oracle saw $1.39 in adjusted earnings per share, compared to an estimated $1.32. The analysts also expected $13.23 billion in revenue for the quarter, while the company reported $13.31 billion, marking an 8% year-over-year increase. Its net income came at $2.93 billion compared to $2.42 billion in the same period last year.

Oracle’s biggest revenue generators were cloud services and license support business, which accounted for $10.52 billion of the total $13.31 billion in revenue.  

“As cloud services became Oracle’s largest business, both our operating income and earnings per share growth accelerated,” Oracle’s CEO Safra Catz said in a press release.

Besides strong 1Q earnings, Oracle also unveiled a partnership with Amazon Web Services (AWS). The partnership will allow AWS customers to access Oracle Autonomous Database and Oracle Exadata Database Service.

Oracle stock was down during trading hours on Monday, closing at $139.89 per share. But following the 1Q report and announcement of the Amazon partnership, the stock jumped by 9.55% and traded at $153.25 per share. This puts it on track to top its previous all-time high close of $145.03 per share from July.

The post Oracle Stock Jumps More Than 9% on 1Q Earnings Beat appeared first on theprimarymarket.com.

Oracle reported revenue of $11.84 billion compared to the $11.66 billion predicted by analysts. This marked a five percent increase from the previous year. The company did even better to beat the earnings per share predictions. It posted $1.54 per share in contrast to the expected $1.37.

Much of Oracle’s performance was driven by its success in the cloud infrastructure sector. According to the tech giant, the Infrastructure Cloud Revenue is up by 36 percent, resulting in $2.9 billion in total cloud revenue. And the company believes this is only the beginning.

“We believe that this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase,” said CEO Safra Catz.

ORCL reached its peak in December 2021, when it traded for $102.63 per share. However, just like many other tech stocks, it has lost much of its value since then. Its lowest point was in early July when it slid to $64.05.

The post Oracle Stock Surges After Positive Fourth-Quarter Results appeared first on theprimarymarket.com.

Oracle saw $1.39 in adjusted earnings per share, compared to an estimated $1.32. The analysts also expected $13.23 billion in revenue for the quarter, while the company reported $13.31 billion, marking an 8% year-over-year increase. Its net income came at $2.93 billion compared to $2.42 billion in the same period last year.

Oracle’s biggest revenue generators were cloud services and license support business, which accounted for $10.52 billion of the total $13.31 billion in revenue.  

“As cloud services became Oracle’s largest business, both our operating income and earnings per share growth accelerated,” Oracle’s CEO Safra Catz said in a press release.

Besides strong 1Q earnings, Oracle also unveiled a partnership with Amazon Web Services (AWS). The partnership will allow AWS customers to access Oracle Autonomous Database and Oracle Exadata Database Service.

Oracle stock was down during trading hours on Monday, closing at $139.89 per share. But following the 1Q report and announcement of the Amazon partnership, the stock jumped by 9.55% and traded at $153.25 per share. This puts it on track to top its previous all-time high close of $145.03 per share from July.

The post Oracle Stock Jumps More Than 9% on 1Q Earnings Beat appeared first on theprimarymarket.com.

Oracle reported revenue of $11.84 billion compared to the $11.66 billion predicted by analysts. This marked a five percent increase from the previous year. The company did even better to beat the earnings per share predictions. It posted $1.54 per share in contrast to the expected $1.37.

Much of Oracle’s performance was driven by its success in the cloud infrastructure sector. According to the tech giant, the Infrastructure Cloud Revenue is up by 36 percent, resulting in $2.9 billion in total cloud revenue. And the company believes this is only the beginning.

“We believe that this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase,” said CEO Safra Catz.

ORCL reached its peak in December 2021, when it traded for $102.63 per share. However, just like many other tech stocks, it has lost much of its value since then. Its lowest point was in early July when it slid to $64.05.

The post Oracle Stock Surges After Positive Fourth-Quarter Results appeared first on theprimarymarket.com.