Oracle’s stock jumps as company returns to growth

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Oracle CEO Safra Catz delivers a keynote address during the Oracle OpenWorld conference on September 17, 2019 in San Francisco. Oracle CEO Safra Catz kicked off day two of the 2019 Oracle OpenWorld with a keynote address.Justin Sullivan | Getty Images News | Getty ImagesOracle shares rose as much as 6% in extended trading on Thursday after the software maker reported fiscal first-quarter earnings that were better than analysts had expected.Here’s how the company performed:Earnings: 93 cents per share, adjusted, vs. 86 cents per share as expected by analysts, according to Refinitiv.Revenue: $9.37 billion, vs. $9.19 billion as expected by analysts, according to Refinitiv.Revenue grew 2% on an annualized basis in the quarter, which ended on Aug. 31, compared with the 6.3% decline in the prior period.In Oracle’s cloud services and license support segment, which produces the majority of revenue, sales increased 2% to $6.95 billion, just above the $6.93 billion consensus among analysts polled by FactSet.The cloud license and on-premise license segment came in at $886 million, up 9% and higher than the FactSet consensus estimate of $749 million.In the quarter Oracle announced managed cloud regions of data center equipment and services that can be located in customers’ data centers for a monthly fee. And in August President Trump said …

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