Shares of Oracle rose on Friday after the company reported earnings and revenue that beat analyst estimates for the second quarter of 2022.
The stock is on track for its best day since March 13, 2020. It's set to add about $33 billion to its market cap, bringing it to about $275 billion.
The company reported $1.21 per share, adjusted in earnings, exceeding analyst estimates of $1.11 per share, according to Refinitiv. It also brought in $10.36 billion for the quarter in revenue, beating estimates of $10.21 billion. Oracle reported a net loss for the quarter of $1.25 billion, however, compared to net income of $2.44 billion it reported in the year-ago quarter. That was due to a payment resulting from a judgement in a long-running dispute related to former CEO Mark Hurd's arrival at the company in 2010 from
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