Oracle CEO Clayton Magouyrk said on an earnings call the company's model of having customers provide data chips for new data center builds is working.

Oracle's overall revenue increased 22% year over year in the fiscal third quarter, which ended on Feb. 28, according to a statement. Net income rose to $3.72 billion, or $1.27 a share, from $2.94 ...

Oracle shares led the tech sector higher Wednesday as investors cheered the cloud giant's better-than-expected earnings and stronger outlook.