Shares of Oracle (NYSE: ORCL) charged sharply higher on Tuesday, gaining as much as 13.49% in early trading. As of 10:58 a.m. ET, the stock was still up 11.3%.

The catalyst that sent the database specialist higher was quarterly results that were far better than feared.

Oracle reported the results for its fiscal 2024 third quarter (ended Feb. 29), and investors breathed a sigh of relief. Revenue of $13.3 billion grew 7% year over year, resulting in adjusted earnings per share (EPS) of $1.41, up 16%.

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Source Fool.com