Oracle Corp. shares rallied in the extended session Thursday after the database software company’s results and outlook topped Wall Street estimates.
On a conference call, Oracle ORCL, +0.66% Chief Executive Safra Catz forecast fiscal second-quarter adjusted earnings of 98 cents to $1.02 a share on flat to 2% growth in revenue, or $9.62 billion to $9.81 billion. Analysts surveyed by FactSet had forecast earnings of 94 cents a share on revenue of $9.58 billion.
For the fiscal first quarter, Oracle reported 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 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,” 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, which had surged as much as 6%, were last up around 3.5% after hours, following a 0.3% decline in the regular session to close at $56.80.