Oracle: Fiscal 1Q Earnings Snapshot
REDWOOD CITY, Calif. (AP) _ Oracle Corp. (ORCL) on Monday reported fiscal first-quarter earnings of $2.27 billion.
On a per-share basis, the Redwood City, California-based company said it had profit of 57 cents. Earnings, adjusted for stock option expense and amortization costs, were 71 cents per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The software maker posted revenue of $9.19 billion in the period. Its adjusted revenue was $9.2 billion, falling short of Street forecasts. Twelve analysts surveyed by Zacks expected $9.28 billion.
Oracle shares have increased 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 8 percent. In the final minutes of trading on Monday, shares hit $49.21, a rise of 1 percent in the last 12 months.