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Oracle's stock jumps 7% on earnings beat as cloud infrastructure revenue more than doubles

Oracle's results for the quarter came in stronger than expected, as did its revenue backlog.

Oracle's stock jumps 7% on earnings beat as cloud infrastructure revenue more than doubles
The logo of the software and hardware manufacturer Oracle can be seen at the company's German headquarters in Munich on Sept. 25, 2023.

Sven Hoppe | Picture Alliance | Getty Images

shares jumped 7% in extended trading on Thursday after the software vendor issued stronger-than-expected quarterly results.

Here's how the company performed relative to LSEG consensus:

  • Earnings per share: $1.92 adjusted vs. $1.74 expected
  • Revenue: $19.35 billion vs. $19.14 billion expected
Oracle's revenue grew 30% year over year in the fiscal first quarter, which ended on Aug. 31, according to a and obtained a worth up to $7 billion over a decade.

Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.

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Reported by Jordan Novet · Syndicated via official news feed

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