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Oracle quarterly profit tops estimates; shares rally

Oracle Corp.'s shares rallied 5% in after-hours trading after the systems software company booked fiscal second-quarter earnings that exceeded analysts' expectations.

The company reported net income of $2.33 billion, or 61 cents per share, in the quarter that ended Nov. 30, up from $2.21 billion, or 52 cents per share, in the same period a year prior.

Non-GAAP EPS was 80 cents, up from 69 cents in the year-ago period and higher than the S&P Global Market Intelligence second-quarter estimate of 78 cents.

Revenues totaled $9.56 billion, compared with $9.59 billion in the prior-year quarter. Revenues from cloud services and license support increased year over year, while revenues from cloud license and on-premise license, hardware, and services declined.

Operating income increased to $3.10 billion in the second quarter from $3.04 billion in the year-ago quarter.

As of 5:26 p.m. ET, Oracle's shares were up 5.07%.