Oracle Corp. Q3 Profit Decreases, misses estimates

(RTTNews) - Oracle Corp. (ORCL) reported earnings for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $2.32 billion, or $0.84 per share. This compares with $5.02 billion, or $1.68 per share, in last year's third quarter.

Excluding items, Oracle Corp. reported adjusted earnings of $3.10 billion or $1.13 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.2% to $10.51 billion from $10.09 billion last year.

Oracle Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $2.32 Bln. vs. $5.02 Bln. last year. -EPS (Q3): $0.84 vs. $1.68 last year. -Analyst Estimates: $1.18 -Revenue (Q3): $10.51 Bln vs. $10.09 Bln last year.