Oracle on Thursday published its second quarter financial results, beating market expectations with solid growth from its infrastructure and applications cloud businesses. 

Oracle's Q2 non-GAAP operating income was up 6% to$4.9 billion, and earnings per share was up 14% to$1.21. Total quarterly revenues were up 6% year-over-year to$10.4 billion. 

Analysts were expecting earnings of$1.11 per share on revenue of$10.21 billion. 

"These strong results are being driven by the 22% growth of our infrastructure and applications cloud businesses which are approaching$11 billion in annualized revenue," CEO Safra Catz said in a statement. "We now have 8,500 Fusion ERP customers with revenue growing 35%, 28,400 NetSuite ERP customers with revenue growing 29%, and our Gen2 infrastructure businesses are growing even faster-and accelerating."

Oracle's total cloud revenue, comprising the infrastructure and applications cloud businesses, was$2.7 billion for the quarter.

By segment, Cloud services and license support revenues in Q2 were up 6% to$7.6 billion. Within that category, applications cloud services and license support brought in$3.15 billion, up 9%, while infrastructure cloud services and license support brought in$4.4 billion, up 5%.

Cloud license and on-premise license revenues were up 13% to$1.2 billion. Hardware brought in$767 million, down 9%. Services brought in$802 million, up 7%.

For the third quarter, Catz said total revenue is expected to grow 6% to 8% in constant currency.

Meanwhile, Oracle's board of directors increased the authorization for share repurchases by$10 billion. The board of directors also declared a quarterly cash dividend of 32 cents per share of outstanding common stock.

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