March 11 (Reuters) - Oracle posted a rise in

quarterly profit on Monday, as demand rose for its

cloud-computing services on the back of a boom in generative AI.

Shares of Oracle jumped 5.9% to $120.82 in extended trading.

The 46-year-old database giant has been trying to reinvent

itself as a cloud-computing provider by offering services

cheaper than those of rivals such as Amazon.com ( AMZN ).

Excluding items the company posted profit of $1.41 per

share, up 16% compared to $1.22 per share a year earlier.

However, revenue of $13.28 billion for the three months

ended February 29 was below analysts' average estimate of $13.30

billion, according to LSEG data.