The stock rose 3.4% to 47.00 in after-hours trading, after having finished down 1.8% in regular market action.
Adjusted earnings per share came in at $0.80, topping analyst estimates of $0.78. Revenue was $9.56 billion, beating estimates of $9.52 billion. Cloud sales and license support revenue, an important segment for Oracle, came in at $6.65 billion, slightly beating estimates of $6.64 billion.
"Oracle's two cloud ERP businesses, Fusion ERP and NetSuite ERP, delivered a combined revenue growth rate of 32% in Q2," said Oracle co-CEO, Mark Hurd, in a press release. "ERP has always been the largest segment of the enterprise applications business, so we have lots of room to grow as customers migrate from their traditional on-premise ERP to the Oracle Fusion ERP Cloud."
Oracle CEO, Safra Catz., noted that "in addition to our strong EPS growth, free cash flow grew 10% to $13.8 billion over the previous twelve months. I am confident that we will continue to record strong EPS and free cash flow growth during the second half of this fiscal year."
Oracle's stock is down roughly 3% year to date.
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