Oracle (NYSE: ORCL) reported Q1 results, with EPS coming in at $1.03, beating the consensus estimate of $0.97.

Quarterly revenue grew 4% year-over-year to $9.73 (vs. consensus of $9.77 billion), out of which Cloud services and license support revenues were $7.4 billion (up 6% year-over-year)

According to Safra Catz, the CEO of Oracle, the company’s two new cloud businesses, IaaS and SaaS, which represent over 25% of the total revenue, are the company’s fastest-growing and highest margin new businesses. Catz said the continued growth of these two businesses will boost the company’s profit margins and push EPS higher.

On its call, Oracle said it sees Q2 EPS of $1.09 to $1.13 vs $1.08 consensus. The company sees revenue growth of 3-5%.

Shares of the company were trading around 2% lower after-hours Monday.