Oracle Beats On Earnings For The First Time In A Year

AP Photo/Eric Risberg

Oracle just reported earnings for the quarter ended Nov. 30, and it's a beat - the first one in a while after three straight quarters of misses.

Non-GAAP EPS came in a penny ahead of expectations at $0.96, and adjusted revenue was $9.60 billion versus expectations of $9.50 billion.

The all-important cloud revenue segment was up 5% to $7.3 billion.

The stock is up about 3% after hours on the pleasant surprise for investors.

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Last quarter, Oracle posted its third earnings miss in a row, and Larry Ellison stepped down as CEO, handing the reins over to two trusted lieutenants, Safra Katz and Mark Hurd. Ellison is still executive chairman and chief technology officer, though, so he's not exactly sitting on the sidelines.