Why Shares of Oracle Have Soared 32% So Far This Year

Shares of database giant Oracle (NYSE: ORCL) have soared 31.7% since the beginning of the year, according to data provided by S&P Global Market Intelligence. The gain was driven by two solid quarterly reports featuring revenue, earnings, and cloud growth. Oracle announced its second-generation cloud infrastructure offering late last year in an effort to compete directly against Amazon Web Services (AWS).

Oracle's fiscal third-quarter report in March led to a jump in the stock price, and its fourth-quarter report provided an encore. Total revenue grew by 2% year over year during the third quarter, and by 3% during the fourth quarter. Software-license and hardware sales declined in both cases, but that weakness was more than offset by strong cloud growth.

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Source: Fool.com