Oracle Corp. shares moved up more than 9% after the company posted a higher-than-expected 36% increase in profits, reports Benjamin Pimentel for MarketWatch.
“Given that the first quarter is the seasonally toughest quarter for the company, combined with increased macroeconomic concerns, we believe these results will bring a sigh of relief for investors,” FBR Capital analyst David Hilal wrote in a note.
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Max Chen contributed to this article.