Investing.com — Oracle on Monday reported better-than-expected fiscal Q1 results, driven by growth in its cloud services and license support business. The cloud services company also said it signed a multicloud agreement with Amazon (NASDAQ:AMZN) Web Services.
Oracle Corporation (NYSE:ORCL) shares gained 5% in after-hours trade following the report.
Oracle reported adjusted earnings per share of $1.39 on revenue of $13.3B. Analysts polled by Investing.com anticipated EPS of $1.33 on revenue of $13.23B.
Total remaining performance obligation, a key metric that measures subscription backlog, was $99B, up 53% compared to fiscal Q1 2024.
Cloud services revenues were up 22% in constant currency to $5.6B.
