(Il Sole 24 Ore Radiocor) - Milano, 11 set - Shares in Oracle jumped in premarket trading after the hyperscaler said its profits in the first quarter surged 30% driven by cloud service demand and data center growth.

The Texas-based company said its total cloud revenues in its fiscal first quarter rose 62% to 11.6 billion dollars.

It said it booked more than 30 billion dollars of additional AI cloud contracts in the quarter, lifting its revenue backlog to 664 billion.

The results soothed concerns about debt-fuelled investments.

At 1210 GMT Oracle shares were up 5.95%.

(RADIOCOR) 11-09-26 14:23:48 (0418) 5 NNNN