Oracle shares jumped 7% in extended trading on Thursday after the software vendor issued stronger-than-expected quarterly results.
Here's how the company performed relative to LSEG consensus:
Oracle's revenue grew 30% year over year in the fiscal first quarter, which ended on Aug. 31, according to a statement. Net income of $4.68 billion, or $1.56 per share, was up from $2.93 billion, or $1.01 per share, a year ago.
For the fiscal second quarter, Oracle called for $1.85 to $1.93 in adjusted earnings per share, with revenue growth between 30% and 34%. Analysts surveyed by LSEG were looking for $1.89 in adjusted earnings per share, with $21.20 billion in revenue, which would indicate 32% growth.
Much of Oracle's expansion is tied to data center growth, as the company tries to become a bigger player in the artificial intelligence boom. But Oracle has a weaker cash position than hyperscaler competitors and a lower credit rating. Free cash flow has been negative since last year, and the company now sits on $125 billion in debt.