Oracle Corporation (NYSE:ORCL) stock surges 18.62% (As on Dec 10, 9:34:38 AM UTC-4, Source: Google Finance) after the company swung to a loss in the most recent quarter, driven by a payment of a judgment related to a years-old dispute around former chief executive Mark Hurd’s employment. That payment resulted in a Q2 GAAP operating loss of $824 million and a loss per share of $0.46. Q2 Non-GAAP operating income was up 6% to $4.9 billion. The business software giant has reported a second-quarter loss of $1.25 billion, compared with a profit of $2.44 billion a year earlier. Short-term deferred revenues were $7.9 billion. Operating cash flow was $10.3 billion during the trailing twelve months. Further, Constant currency revenue beat guidance by $200 million. These strong results are being driven by the 22% growth of the infrastructure and applications cloud businesses which are approaching $11 billion in annualized revenue. The company now has 8,500 Fusion ERP customers with revenue growing 35%, 28,400 NetSuite ERP customers with revenue growing 29%, and the Gen2 infrastructure businesses are growing even faster and accelerating.

Moreover, the company’s Autonomous Database and new MySQL Database with HeatWave are the world’s two highest-performance databases. As a result of their extreme high-performance, both products present huge growth opportunities for the cloud infrastructure business. Oracle database on-premise customers are choosing the Autonomous Database as they move to the public cloud and the unique Cloud@Customer service. Amazon Aurora customers are discovering that moving to MySQL with HeatWave can increase their performance by more than ten-times with a corresponding reduction in cost.

ORCL in the second quarter of FY 22 has reported the adjusted earnings per share of $1.21, beating the analysts’ estimates for the adjusted earnings per share of $1.11. The company had reported the adjusted revenue growth of 6 percent to $10.36 billion in the second quarter of FY 22, beating the analysts’ estimates for revenue of $10.21 billion, according to Refinitiv IBES data.

Additionally, the company has increased its share repurchase plan by $10 billion. It also kept its quarterly dividend steady at $0.32 per share, payable on Jan. 19 to stockholders of record on Jan. 7.

Oracle had projected $1.09 to $1.13 a share in adjusted profit and revenue growing 3% to 5%. Analysts surveyed by FactSet expected a profit of 84 cents a share, or $1.11 a share as adjusted, and $10.2 billion in revenue.