Oracle Stock Rises on Strong Earnings. The Cloud Software Business Is Still Growing.

Oracle shares were moving higher late Monday after the company posted better-than-expected financial results for its latest quarter. The enterprise software giant continued to see success in shifting more of its business to the cloud during the period.

“Simply put, we had an outstanding quarter,” Oracle CEO Safra Catz said on a call with analysts. “More and more customers are recognizing our second generation infrastructure cloud as being better architected for higher performance, better security and unmatched reliability” than other cloud providers.