Oracle’s stock edges up on earnings beat as cloud infrastructure revenue more than doubles

Oracle shares moved higher in extended trading following the release of its fiscal first quarter earnings, which exceeded analyst expectations across several key metrics. The software vendor reported revenue growth of nearly 30% year-over-year for the quarter ended August 31, with net income reaching $4.68 billion, or $1.56 per share, compared with $2.93 billion, or $1.01 per share, in the prior year period.
Cloud operations drove much of the company’s expansion. Cloud revenue climbed 62%