Oracle Corporation ORCL reported its first-quarter financial results after Monday’s closing bell. Here’s a look at the details from the report. 

The Details: Oracle reported quarterly earnings of $1.39 per share, which beat the analyst consensus estimate of $1.32 by 5.3%. Quarterly revenue came in at $13.307 billion, beating the consensus estimate of $13.231 billion and representing a 6.86% increase over the same period last year.

• Cloud Infrastructure (IaaS) revenue was $2.2 billion, up 45%.
• Cloud Application (SaaS) revenue was $3.5 billion, up 10%.
• Fusion Cloud ERP (SaaS) revenue of $900 million grew 16% in the quarter.
• NetSuite Cloud ERP (SaaS) revenue was $900 million billion, up 20%.
• Total Remaining Performance Obligations rose 53% to $99 billion in the first quarter.

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“As Cloud Services became Oracle’s largest business, both our operating income and earnings per share growth accelerated,” said Oracle CEO Safra Catz.

“Non-GAAP operating income was up 14% in constant currency to $5.7 billion, and non-GAAP EPS was up 18% in constant currency to $1.39 in Q1. RPO was up 53% from last year to a record $99 billion,” Catz noted.

“That strong contract backlog will increase revenue growth throughout FY25. But the biggest news of all was signing a MultiCloud agreement with AWS — including our latest technology Exadata hardware and Version 23ai of our database software — embedded into AWS cloud datacenters. AWS customers will get easy and convenient access to the Oracle database when we go live in December later this year,” Catz added.

The company will host a conference call at 5 p.m. ET on Monday to discuss the results. 

Oracle and Amazon.com, Inc.’s AMZN AWS announced the launch of Oracle Database@AWS, a new offering that allows customers to access Oracle Autonomous Database on dedicated infrastructure and Oracle Exadata Database Service within AWS. The companies said Oracle Database@AWS will provide customers with a unified experience between Oracle Cloud Infrastructure (OCI) and AWS.

Oracle and Alphabet, Inc.’s GOOGL GOOG Google Cloud also announced the general availability of Oracle Database@Google Cloud in four Google Cloud regions across the U.S. and Europe. Customers will now be able to run Oracle Exadata Database Service, Oracle Autonomous Database, and Oracle Database Zero Data Loss Autonomous Recovery Service on Oracle Cloud Infrastructure (OCI) in Google Cloud datacenters across U.S. East (Ashburn, Va.), U.S. West (Salt Lake City, Utah), U.K. South (London), and Germany Central (Frankfurt), expanding to more regions in the coming months across North America, Europe, the Middle East, Africa, Asia Pacific and Latin America.

ORCL Price Action: According to Benzinga Pro, Oracle shares are up 9.25% in after-hours trading at $152.83 at the time of publication Monday.

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