Oracle reports better-than-expected quarterly results; shares rise

Oracle shares roseate 8% successful extended trading connected Monday aft the database bundle vendor reported fiscal first-quarter results that topped Wall Street estimates.

Here's however the institution did successful examination with LSEG consensus:

• Earnings per share: $1.39 adjusted vs. $1.32 expected
• Revenue: $13.31 cardinal vs. $13.23 cardinal expected

Oracle's gross accrued 8% from $12.45 cardinal a twelvemonth ago, according to a statement. Net income roseate to $2.93 billion, oregon $1.03 per share, from $2.42 billion, oregon 86 cents per share, successful the aforesaid 4th a twelvemonth ago.

The institution said its unreality services and licence enactment concern generated $10.52 cardinal successful revenue. That was up 10% from a twelvemonth earlier and higher than the StreetAccount statement of $10.47 billion.

Oracle's unreality and on-premises licence conception had $870 cardinal successful revenue, up 7% and much than StreetAccount's $757.6 cardinal consensus.

Revenue from unreality infrastructure came to $2.2 billion, up 45%. That's an acceleration from the anterior quarter, during which the gross went up 42%.

During the quarter, Oracle announced the opening of a 2nd unreality portion successful Saudi Arabia and said its database bundle volition beryllium disposable done Google's nationalist cloud.

In a abstracted connection connected Monday, Oracle said it would spouse with unreality infrastructure marketplace person Amazon Web Services to alteration its database services connected dedicated hardware.

Excluding the determination aft hours, Oracle banal has gained astir 34% truthful acold this year, portion the S&P 500 banal scale has gained astir 15%.

Executives volition contented guidance and sermon the results with analysts connected a league telephone starting astatine 5 p.m. ET.

WATCH: Oracle could pb the adjacent procreation of AI, says Gradient's Jeremy Bryan