Oracle shares whipsawed in after-hours trading Thursday, after the company exceeded expectations on both earnings and revenue.
For the fiscal third quarter, the cloud computing company’s adjusted earnings increased +8% year-over-year to 87 cents per share, beating Wall Street's expectations of 84 cents per share. The company’s revenue rose +3% year-over-year to $9.61 billion in the quarter, surpassing analysts’ estimates of $9.59 billion.
Following the report, Oracle stock price jumped initially during extended trading Thursday, but only to pull back later that day.
CEO Safra Catz indicated that the company is expecting double-digit percentage range for full-year 2019 earnings-per-share growth.