Oracle chairman and chief technology officer Larry Ellison speaks at the Oracle OpenWorld conference in San Francisco on Sept. 16, 2019.
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Oracle shares rose 8% in extended trading on Monday after the database software vendor reported fiscal first-quarter results that topped Wall Street estimates.
Here’s how the company did in comparison with LSEG consensus:
- Earnings per share: $1.39 adjusted vs. $1.32 expected
- Revenue: $13.31 billion vs. $13.23 billion expected
Oracle’s revenue increased 8% from $12.45 billion a year ago, according to a statement. Net income rose to $2.93 billion, or $1.03 per share, from $2.42 billion, or 86 cents per share, in the same quarter a year ago.
The company said its cloud services and license support business generated $10.52 billion in revenue. That was up 10% from a year earlier and higher than the StreetAccount consensus of $10.47 billion.
Oracle’s cloud and on-premises license segment had $870 million in revenue, up 7% and more than StreetAccount’s $757.6 billion consensus.
Revenue from cloud infrastructure came to $2.2 billion, up 45%. That’s an acceleration from the prior quarter, during which the revenue went up 42%.
During the quarter, Oracle announced the opening of a second cloud region in Saudi Arabia and said its database software will be available through Google’s public cloud.
In a separate statement on Monday, Oracle said it would partner with cloud infrastructure market leader Amazon Web Services to enable its database services on dedicated hardware.
Excluding the move after hours, Oracle stock has gained about 34% so far this year, while the S&P 500 stock index has gained about 15%.
Executives will issue guidance and discuss the results with analysts on a conference call starting at 5 p.m. ET.
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