6/13/2022, 10:08 PM (Source: TeleTrader)
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Oracle's revenue tops estimates in Q4, shares surge

Oracle Corp. said on Monday its GAAP earnings per share stood at $1.16 while revenue rose 5% to $11.8 billion, and operating income mostly remained unchanged at $4.5 billion in the second quarter of 2022. All three figures surpassed market expectations in the company's fourth fiscal quarter.

"We believe that this revenue growth spike indicates that our infrastructure business has now entered a hyper-growth phase. Couple a high growth rate in our cloud infrastructure business with the newly acquired Cerner applications business - and Oracle finds itself in a position to deliver stellar revenue growth over the next several quarters," CEO Safra Catz noted.

Oracle's stocks soared 8.79% in the after-hours trading to sell for $69.68 per share following the earnings announcement.

Baha Breaking News (BBN) / ND