Oracle shares jump 7% after earnings beat and cloud growth
Oracle reported stronger-than-expected quarterly results and revenue backlog, while cloud infrastructure revenue more than doubled.
Oracle shares rose 7% after the company reported quarterly results and revenue backlog that were stronger than expected.
The company also reported that cloud infrastructure revenue had more than doubled. The supplied results do not include the underlying revenue, earnings or backlog figures, or the period used for the cloud-growth comparison.
The report, published by CNBC, described the results as an earnings beat and highlighted the stronger backlog alongside the expansion in cloud infrastructure revenue.
The share-price move was reported after the results, although the supplied material does not establish a precise time reference or attribute the rise solely to the earnings announcement.
