Oracle Q1 Profit Tops Estimate; Revenue Misses

(RTTNews) - Oracle Corp. (ORCL) reported net income for the first quarter of $1.75 billion or $0.40 per share, compared to $2.18 billion or $0.48 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $2.35 billion or $0.53 per share, compared to $2.81 billion or $0.62 per share in the prior year quarter.

Total revenue for the first quarter fell 2% to $8.45 billion from $8.60 billion a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.52 per share on revenue of $8.53 billion for the first quarter. Analysts' estimates typically exclude special items.