Oracle Corporation (NYSE:ORCL) shares are trading higher Friday after the company reported better-than-expected first-quarter results on Thursday after the market closed and raised its fiscal-year 2027 adjusted earnings per share guidance above analyst estimates.
Oracle shares are powering higher. What’s driving ORCL stock higher?
Cloud Growth Powers Oracle’s Earnings Beat
Oracle reported adjusted earnings per share of $1.92, beating the consensus estimate of $1.74. In addition, the company reported revenue of $19.300 billion, beating the consensus estimate of $19.144 billion. Total revenue was up 30% year-over-year.
Total cloud revenue reached a record, up 62%, with cloud infrastructure (IaaS) revenue up 121% and cloud applications (SaaS) revenue up 10%. Remaining Performance Obligations grew $209 billion year-over-year to $664 billion.
