Oracle · CNBC Technology
Oracle's stock edges up on earnings outpaced as cloud infrastructure revenue more than doubles
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Oracle shares moved 4% higher in extended trading on Thursday after the software vendor issued stronger-than-expected quarterly results.
Key facts
- Net income of $4.68 billion, or $1.56 per share, was up from $2.93 billion, or $1.01 per share, a year ago
- For the fiscal second quarter, Oracle called for $1.85 to $1.93 in adjusted earnings per share, with revenue growth between 30% and 34%
- Cloud revenue soared 62% in the quarter to $11.61 billion, topping the $11.51 billion consensus among analysts polled by StreetAccount
- For the 2027 fiscal year, Oracle now sees $8.10 in adjusted earnings per share on at least $90 billion in revenue
Summary
Earnings per share: $1.92 adjusted vs. $1.74 expected. Oracle's revenue grew almost 30% year over year in the fiscal first quarter, which ended on Aug. 31, according to a statement. For the fiscal second quarter, Oracle called for $1.85 to $1.93 in adjusted earnings per share, with revenue growth between 30% and 34%. Much of Oracle's expansion is tied to data center growth, as the company tries to become a bigger player in the artificial intelligence boom.