Oracle soars on eve of CloudWorld with AWS alliance accompanying strong Q1 numbers

With Oracle CloudWorld set to kick off later today in Las Vegas, the firm goes into its annual gathering on a high as the firm’s stock price soared Monday on the back of strong Q1 numbers and a new partnership with Amazon Web Services, until now the latest bête noire for Oracle.

For the quarter, total revenue was up seven percent year-on-year to $13.3 billion, with net income of $2.93 billion, up from $2.42 billion in last year’s comparable quarter. Total cloud revenue - IaaS and SaaS - came in at $5.6 billion, up 21% year-on-year.

Of that, cloud infrastructure revenue was up 45% year-on-year to $2.2 billion, fuelled by AI-related demand as CEO Safra Catz reiterated a message that the firm has stated before:

I will say that demand is still outstripping supply. But I can live with that because we are laying out ...