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Oracle Corp. shares rallied in the extended session Thursday after the database software company topped Wall Street estimates and forecast an acceleration of revenue growth.
Oracle ORCL, +0.66% reported fiscal first-quarter net income of $2.25 billion, or 72 cents a share, compared with $2.14 billion, or 63 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 93 cents a share, compared with 81 cents a share in the year-ago period.
Revenue rose to $9.37 billion from $9.22 billion in the year-ago quarter.
Analysts surveyed by FactSet expected earnings of 86 cents a share on revenue of $9.17 billion, while Oracle had forecast 84 cents to 88 cents a share on revenue between $9.13 billion and $9.31 billion.
“Our infrastructure businesses are also growing rapidly as revenue from Zoom ZM, -1.32% more than doubled from Q4 last year to Q1 in this year,” Chief Executive Safra Catz said in a statement. “I have a high level of confidence that our revenue will accelerate as we move on past COVID-19 .”
Shares surged 6% after hours, following a 0.3% decline in the regular session to close at $56.80.
