New Delhi, Sept. 10 -- Oracle Corp. share price surged more than 28% in extended trading after the company reported a sharp rise in bookings and issued a strong growth outlook for its cloud infrastructure business. Oracle shares closed 1.27% higher at $241.51 on Tuesday and jumped another 28.36% to $310.00 in after-hours trade.

For the fiscal first quarter ended August 31, Oracle's revenue rose 12% year-on-year (YoY) to $14.93 billion, up from $13.3 billion, led by four multi-billion-dollar contracts signed with three major customers. However, revenue fell short of Street estimates of $15.04 billion, according to LSEG data.

The company's net income in Q1 was broadly flat at $2.93 billion, or $1.01 per share, compared with $2.93 billion,...