After the closing bell yesterday, software giant Oracle (ORCL - Free Report) reported better-than-expected fiscal first-quarter 2021 results. The company beat the Zacks Consensus Estimate for both earnings and revenues.

Earnings per share came in at 93 cents, beating the Zacks Consensus Estimate of 86 cents and improving 15% from the year-ago quarter. Revenues rose 1.6% year over year to $9.19 billion and came in above the estimated $9.15 billion. A recovery in client spending has led to robust performance in the quarter as remote work spurred demand for cloud services as well as traditional licensing business.

The solid trend in cloud computing business is likely to continue given that remote working is most likely to extend until the end of the year. In April, Oracle announced that Zoom Video (ZM - Free Report) has partnered with it to expand cloud capabilities in lieu of competitors such as Amazon's (AMZN - Free Report) AWS or Microsoft‘s (MSFT - Free Report) Azure.

Oracle shares jumped more than 4% in after-market trading. The company carries a Zacks Rank #3 (Hold) and has a Value Score of B. It belongs to a bottom-ranked Zacks Industry (top 24%).

ETFs in Focus

ETFs with the highest allocation to this software giant are likely to be big movers post-Oracle results. Below we have highlighted them:

iShares Expanded Tech-Software Sector ETF (IGV - Free Report)

This ETF provides exposure to software companies in the technology and communication services sectors by tracking the S&P North American Expanded Technology Software Index. The fund holds a basket of 100 securities with Oracle taking the fourth spot at 7.5% of total assets. It is popular with AUM of $5 billion and volume is good as it exchanges nearly 1 million shares a day. The product charges 46 bps in annual fees and has a Zacks ETF Rank #1 (Strong Buy) with a High risk outlook.

Invesco BuyBack Achievers ETF (PKW - Free Report)

This ETF follows the Nasdaq US BuyBack Achievers Index, which comprises U.S. securities issued by corporations that have effected a net reduction in shares outstanding of 5% or more in the trailing 12 months. It holds a basket of 243 stocks with Oracle taking the fourth position at 4.8% allocation. PKW has accumulated $676 million in its asset base and trades in average daily volume of 46,000 shares. It charges 62 bps in annual fees.

First Trust Cloud Computing ETF (SKYY - Free Report)

This fund provides exposure to cloud computing securities by tracking the ISE Cloud Computing Index. Holding about 65 stocks in the basket, Oracle takes the sixth spot at 3.5% of the assets. The product has been able to manage $4.9 billion in its asset base while seeing a good volume of about 552,000 shares a day. It has 0.60% in expense ratio and a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.

First Trust NASDAQ Technology Dividend Index Fund (TDIV - Free Report)

This fund provides exposure to the dividend payers in the technology sector by tracking the Nasdaq Technology Dividend Index. The product has amassed about $1.3 billion in its asset base and trades in moderate volume of about 112,000 shares per day. The ETF charges 50 bps in annual fees and holds about 89 securities in its basket. Of these firms, ORCL occupies the eighth position, making up roughly 3.7% of the assets.