Oracle reported better-than-expected results in the fiscal second quarter, as cloud infrastructure revenue jumped.
The shares, which have performed better this year than the broader indexes, rose in extended trading.Safra Catz, Oracle's CEO and then one of Oracle's two co-CEOs, smiles during Oracle's OpenWorld conference in San Francisco on, Sept. 20, 2016.shares rose as much as 4% in extended trading on Monday after the software company reported results for the fiscal second quarter that topped analysts' estimates.$1.21 per share, adjusted, vs. $1.
Without the impact from foreign-exchange rates, Oracle's adjusted earnings would have been 9 cents higher, the company said. Revenue for the quarter was over $200 million above the high end of its guidance range, Safra Catz, Oracle's CEO, said in the statement. She cited strength in cloud infrastructure and cloud-based applications.. Last year's loss came in connection to a payment for a judgment tied to Mark Hurd, who previously served as co-CEO alongside Catz. Hurd died in 2019.
Oracle widened its adjusted operating margin to 41% from 39% in the previous quarter. Revenue in the company's cloud services and license support segment increased 14% to $8.6 billion, higher than the $8.56 billion consensus among analysts polled by StreetAccount. Revenue from cloud infrastructure jumped 53% to $1 billion.
Revenue from cloud and on-premises licenses, at $1.44 billion, exceeded the $1.24 billion StreetAccount consensus.
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