On Monday, Oracle Corporation (NYSE:ORCL) reported its fiscal first quarter results, with both revenue and earnings surpassing Wall Street expectations. In addition, Oracle also announced it joined forces with its cloud rival, no other than the tech titan and cloud leader, Amazon.com Inc (NASDAQ:AMZN).

Fiscal first quarter highlights

For the quarter ended on August 31st, Oracle reported overall revenue rose 8% YoY to $13.31 billion, surpassing LSEG's consensus estimate of $13.23 billion.

Cloud services revenue rose 21% YoY to $5.6 billion

Powered by hardware from Nvidia Corporation (NASDAQ:NVDA), cloud infrastructure revenue slightly accelerated from the May quarter as it increased 45% to...