Oracle Climbs on Revenue, Earnings Beat

Oracle (NYSE:ORCL) shares soared in extended trading on Wednesday after the software maker reported results that exceeded Wall Street estimates and signaled that cloud growth will accelerate.Earnings per share proved to be $1.70 adjusted vs. $1.64 expected, with revenue at $15.9 billion vs. $15.59 billion expectedRevenue increased 11% year over year during the fiscal fourth quarter, which ended on May 31. 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.The company called for $1.46 to $1.50 in adjusted earnings per share for the fiscal first quarter, with revenue growth in the range of 12% to 14%. Analysts surveyed by LSEG had expected $1.48 in earnings per share and $14.96 billion in revenue, which implies 12.4% growth.CEO Safra Catz also on a conference call with analysts, cloud infrastructure revenue should increase more than 70% in the 2026 fiscal year, up from growth of 52% in the quarter, Cruz called for more than $67 billion in fiscal 2026 revenue, compared with the LSEG consensus of $65.18 billion.In early Thursday trading, ORCL shares popped $18.97, or 10.8%, to $195.45.