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Oracle shares jumped 7% in after-hours trading after its quarterly results exceeded expectations and cloud infrastructure revenue doubled.
Oracle announced stronger-than-expected first-quarter fiscal year results, with cloud infrastructure revenue more than doubling to $7.4 billion, exceeding market expectations of $7.09 billion. The company's total revenue increased by 30% year-over-year, and net profit reached $4.68 billion. Additionally, Oracle's remaining performance obligations (RPO) stood at $664 billion at the end of the quarter, higher than market expectations of $630.6 billion.
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