Oracle Profit Tops Estimates - Quick Facts

(RTTNews) - Oracle Corp. (ORCL) Wednesday reported first-quarter net income of $2.2 billion or $0.47 per share, compared with $2.03 billion or $0.41 per share last year.

Excluding items, adjusted earnings for the quarter were $2.8 billion or $0.59 per share, compared with $2.6 billion or $0.53 per share a year ago.

Revenues for the quarter were up 2% at $8.4 billion, compared with $8.2 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.56 per share on revenues of $8.48 billion for the quarter. Analysts' estimates typically exclude special items.

Results were impacted by operating expenses that were up 5% year-over-year to $5.5 billion, and interest expenses escalated by $29 million. This was largely offset by a decline in income tax expense to $472 million from $668 million a year ago.

Oracle declared a quarterly cash dividend of $0.12 per share. This will be paid to stockholders of record as of the close of business on October 8, with a payment date of October 29.