Oracle climbs on higher cloud revenue despite missing Wall Street's earnings estimate
Shares of Oracle Corp. gained in Thursday's extended session after the business software giant reported higher revenue from its cloud platform, although its earnings missed Wall Street's estimate. Oracle reported its fiscal fourth-quarter earnings rose to $2.81 billion, or 66 cents a share, from $2.76 billion, or 62 cents a share, a year ago. On an adjusted basis, the company would have earned 81 cents a share. Revenue slid to $10.59 billion from $10.71 billion while total cloud-related revenue increased 51% to $859 million. Analysts surveyed by FactSet had forecast adjusted earnings of 82 cents a share on revenue of $10.46 billion. Oracle shares rose 2.9% in after hours.
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