Oracle shares climb 8% as earnings, revenue top estimates
Oracle shares rose about 8% in extended trading on Wednesday after the software maker reported results that exceeded Wall Street estimates and signaled that cloud growth is accelerating.
Here's how the company did in comparison with LSEG consensus:
Revenue increased 11% during the fiscal fourth quarter, which ended on May 31, according to a statement. Net income rose to $3.43 billion, or $1.19 per share, from $3.14 billion, or $1.11 per share, in the same quarter last year.
CEO Safra Catz said in the statement that cloud infrastructure revenue will increase by more than 70% in the 2026 fiscal year, up from growth of 52% in the quarter.
The company said revenue from cloud services and license support totaled $11.7 billion, topping the $11.59 billion consensus from analysts polled by StreetAccount. Cloud and on-premises license revenue of $2.01 billion was above StreetAccount's $1.82 billion consensus.
During the quarter, Oracle announced a partnership with Cleveland Clinic and G42, the United Arab Emirates' artificial intelligence holding company, on an AI delivery platform for health care. Oracle also announced cloud and consulting commitments with IBM. And SoftBank said it would acquire Oracle-backed chip design startup Ampere for $6.5 billion.
As of Wednesday's close, Oracle shares were up 6% for the year, while the S&P 500 index was up 2%.
Executives will issue guidance and discuss the results with analysts on a conference call starting at 5 p.m. ET.
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