Oracle Corp (NYSE:ORCL) stock rallies 11.96% (As on September 10, 11:28:32 AM UTC-4, Source: Google Finance) after the company reported fiscal first-quarter results that topped Wall Street estimates. Net income rose to $2.93 billion, or $1.03 per share, from $2.42 billion, or 86 cents per share, in the same quarter a year ago. The company said its cloud services and license support business generated $10.52 billion in revenue. That was up 10% from a year earlier and higher than the StreetAccount consensus of $10.47 billion. Oracle’s cloud and on-premises license segment had $870 million in revenue, up 7%, and more than StreetAccount’s $757.6 billion consensus. Revenue from cloud infrastructure came to $2.2 billion, up 45%. That is an acceleration from the prior quarter, during which revenue went up 42%. Oracle is currently designing a data center that will use over a gigawatt of power, and it will rely on three modular nuclear reactors, Larry Ellison, Oracle’s co-founder, chairman and chief technology officer. Over time, Oracle might operate 2,000 data centers, up from 162 today. But not all of them require massive amounts of power. During the quarter, Oracle announced the opening of a second cloud region in Saudi Arabia and said its database software will be available through Google’s  public cloud.

Further, Oracle and Amazon Web Services, Inc. (AWS) today announced the launch of Oracle Database@AWS, a new offering that allows customers to access Oracle Autonomous Database on dedicated infrastructure and Oracle Exadata Database Service within AWS. Oracle Database@AWS will provide customers with a unified experience between Oracle Cloud Infrastructure (OCI) and AWS, offering simplified database administration, billing, and unified customer support.

ORCL in the first quarter of FY 25 has reported the adjusted earnings per share of $1.39, beating the analysts’ estimates for the adjusted earnings per share of $1.32, according to LSEG consensus. The company had reported the adjusted revenue growth of 8 percent to $13.31 billion in the first quarter of FY 25, beating the analysts’ estimates for revenue of $13.23 billion.

For the current quarter, Oracle expects revenue growth to be in the range of 8 to 10%. Analysts were expecting growth of close to 9%, according to LSEG. The company sees adjusted earnings per share for the fiscal second quarter of 1.45 to $1.49. Analysts were looking for earnings of $1.47 per share.