The news: Oracle reported impressive fiscal Q1 results—surpassing Wall Street expectations—and announced a major partnership with Amazon Web Services (AWS).
The alliance is part of Oracle’s broader multi-cloud expansion, which also includes partnerships with Microsoft Azure and Google Cloud.
A quick turnaround brings profits: Oracle’s revenue hit $13.3 billion, an 8% increase YoY, with cloud services leading its growth. Shares jumped 13% Tuesday, indicating that the company’s recent restructuring efforts are paying off.