Oracle Corp. Japan shares jumped over 7% on Friday following record fiscal first-quarter results. Net sales for the quarter ending in August reached ¥74.86 billion. This revenue represents a 13% increase over the previous year. Operating profit surged 22.7% as cloud service demand increased.
Cloud revenue alone grew 31.7% during the period. These services now account for more than one-third of total sales.
The results contrast with a share price decline for the U.S. parent, Oracle Corporation. The U.S. entity issued a force majeure notice for a major AI data center project in New Mexico. This legal notice allows Oracle to delay payments if the project faces delays. The move triggered investor concerns regarding the execution of the company's cloud expansion strategy.