Larry Ellison, the chairman and co-founder of Oracle Corp., announced during the Oracle OpenWorld 2017 conference in San Francisco that the company’s shares rose by 9% in extended trading after reporting fiscal first-quarter results that exceeded Wall Street estimates. The company’s revenue increased by 8% to $13.31 billion, with earnings per share reaching $1.39 adjusted. Oracle’s cloud services and license support business generated $10.52 billion in revenue, showing a 10% increase from the previous year. The company expects revenue growth of 7% to 9% for the current quarter and plans to partner with Amazon Web Services for its database services on dedicated hardware. Oracle’s stock is on track to reach a record high.
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