• Oracle’s (ORCL, $64.05) quarterly results were a mixed bag, with revenues meeting investor expectations but profits falling short, largely due to the strength of the US dollar. Revenue increased 18% to $11.45B in the quarter ending August from the previous year. 

• The difference between GAAP and non-GAAP net income was $1.5B. Non-GAAP Q1 earnings per share were $1.03 compared to GAAP Q1 earnings per share of $0.56. Analysts predicted a revenue of $11.2 billion and adjusted profits of $1.07 a share. The software giant said both adjusted and GAAP earnings were reduced by 8 cents a share due to foreign-exchange rates.

• The company is making steady progress in moving customers to cloud-based versions of its database and application software. Revenue for Oracle's cloud services and license-support division came in at $3.6B, up 45%. Oracle's cloud infrastructure quarterly sales increased by 52% to $900m and now account for more than 30% of overall revenue, according to the firm.