Oracle Beats Estimates as Cloud Revenue Surges 121 Percent

Oracle reported fiscal first-quarter results on Thursday that beat analyst expectations across nearly every major metric, sending its shares higher in after-hours trading and underscoring the company's rapid transformation into a major supplier of artificial intelligence computing power. Total revenue reached $19.3 billion, up 30 percent from a year earlier and above the roughly $19.1 billion analysts had projected, while adjusted earnings per share came in at $1.92, exceeding the $1.74 consensus. The stock, which closed regular trading at $152.94 after a 5.4 percent daily decline, rose in extended trading, with estimates of the gain ranging from roughly 4 percent to 7 percent. The standout figure was cloud infrastructure revenue, which rents AI computing capacity over the internet. It surged 121 percent to $7.4 billion, well ahead of the $7.19 billion analysts had forecast, while the rest of Oracle's business grew only about 3 percent. The company's legacy software segment declined 3 percent to $5.5 billion as customers continue shifting to cloud services.