(Oracle) Shares of Oracle Corporation surged more than 10% on Friday after the company announced 2022 second-quarter revenue of $10.4 billion, up 6% from the prior year.
Oracle’s cloud services and license support revenues also jumped 6% to $7.6 billion. Cloud license and on-premise license revenues rose 13% to $1.2 billion.
Fusion ERP cloud revenue rose 35%, while the NetSuite ERP cloud revenue was up 29%.
The company’s non-GAAP earnings per share rose 14% to $1.21, higher than previously guided EPS of $0.10.
The company reported a net loss of $1.247 billion, down from a net income of $2.442 billion in the second fiscal quarter of 2021.
Oracle’s board raised authorized share buybacks by $10 billion. The company declared a quarterly cash dividend of $0.32 per share of common stock, payable on January 19, next year.
ORCL: NYSE is up +11.19% on premarket.
