Oracle Corporation ORCL shares are trading higher after the company reported better-than-expected second quarter EPS and sales results and increased its share buyback by $10 billion.
Oracle reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $1.11. The company also reported quarterly sales of $10.36 billion which beat the analyst consensus estimate of $10.21 billion by 1%.
Oracle's board of directors increased the authorization for share repurchases by $10 billion.
Oracle provides database technology and enterprise resource planning, or ERP, software to enterprises around the world. Founded in 1977, Oracle pioneered the first commercial SQL-based relational database management system.
Oracle has a 52-week high of $98.95 and a 52-week low of $58.80.
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