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Oracle: Fiscal 1Q Earnings Snapshot

Associated Press
Updated

REDWOOD CITY, Calif. (AP) _ Oracle Corp. (ORCL) on Wednesday reported fiscal first-quarter profit of $2.14 billion.

On a per-share basis, the Redwood City, California-based company said it had net income of 63 cents. Earnings, adjusted for stock option expense and amortization costs, came to 81 cents per share.

The results met Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was also for earnings of 81 cents per share.

The software maker posted revenue of $9.22 billion in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $9.29 billion.

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Oracle shares have risen 25% since the beginning of the year, while the Standard & Poor's 500 index has risen 20%. In the final minutes of trading on Wednesday, shares hit $56.29, an increase of 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORCL at https://www.zacks.com/ap/ORCL