Oracle shares climbed 7% following a strong Q1 earnings report, fueled by a 121% jump in cloud infrastructure revenue and a robust $30 billion in new AI cloud contract bookings.
Oracle's Q1 FY2027 earnings beat estimates with surging cloud infrastructure revenue, and the stock jumped 7% after hours.
Oracle shares rallied 7% in after-hours trading after the company reported fiscal Q1 revenue of $19.35 billion, surpassing analyst expectations of $19.14 billion. The surge was driven by a 121% increase in cloud infrastructure revenue and $30 billion in new AI cloud contracts, signaling strong demand for the company's data center capacity.
Oracle's growth was primarily driven by its cloud infrastructure segment, which saw revenue climb 121% to $7.4 billion, alongside $30 billion in new AI cloud contract bookings.