Why Oracle Stock Is Rising After Hours

Oracle Corp ORCL shares are trading higher in Monday's after-hours session after the company reported better-than-expected quarterly results. 

What Happened: Oracle said fiscal second-quarter revenue increased 18% year-over-year to $12.3 billion, which beat average analyst estimates of $12.04 billion, according to Benzinga Pro. The company's acquisition of Cerner contributed $1.5 billion to total revenues.  

Oracle reported quarterly earnings of $1.21 per share, which beat average estimates of $1.18 per share. 

"Strong overall revenue growth was powered by our infrastructure and applications cloud businesses that grew 59% and 45% respectively, in constant currency. Fusion Cloud ERP grew 28% in constant currency, NetSuite Cloud ERP grew 29% in constant currency—each and every one of our strategic businesses delivered solid revenue growth in the quarter," said Safra Catz, CEO of Oracle.

Oracle's board also declared a quarterly cash dividend of 32 cents per share.

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. The company will hold a conference call to discuss these results at 5 p.m. ET.

Don't Miss This: Oracle Impresses Analyst As Top Defensive And Cloud Play Amid Macro Headwinds

ORCL Price Action: Oracle has a 52-week high of $104.36 and a 52-week low of $60.78.

The stock was up 2.02% in after hours at $82.92, according to Benzinga Pro.

Photo: courtesy of Oracle.