Oracle shares rise 7% after quarterly report and cloud revenue growth
Oracle shares rose 7% in after-hours trading on Thursday after the company released quarterly results that exceeded analysts' expectations. As CNBC Top News reports, adjusted earnings per share came in at $1.92 versus the forecast $1.74, while revenue reached $19.35 billion against expectations of $19.14 billion.
Growth in the cloud business
In the first fiscal quarter, which ended on August 31, Oracle's revenue increased by 30% year over year. Cloud services revenue rose by 62% to $11.6 billion, exceeding StreetAccount's consensus forecast of $11.51 billion.
Cloud infrastructure revenue more than doubled to $7.4 billion. Analysts surveyed by StreetAccount had expected $7.09 billion. The company also said it delivered 850 megawatts of data center capacity during the quarter.
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Outlook and contract backlog
For the second fiscal quarter, Oracle forecasts adjusted earnings per share of between $1.85 and $1.93 and revenue growth of 30–34%. Analysts surveyed by LSEG expected adjusted earnings of $1.89 per share and revenue of $21.2 billion, which would represent growth of 32%.
For fiscal 2027, Oracle expects adjusted earnings of $8.10 per share and at least $90 billion in revenue. The LSEG consensus forecast called for earnings of $8.07 per share and revenue of $89.76 billion.
Oracle's remaining performance obligations totaled $664 billion at the end of the quarter, exceeding StreetAccount's forecast of $630.6 billion. The figure includes contracted but not yet recognized revenue, deferred revenue, and unpaid invoices.
