Oracle Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Oracle Corp. (ORCL) reported earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $2.42 billion, or $0.86 per share. This compares with $1.55 billion, or $0.56 per share, in last year's first quarter.

Excluding items, Oracle Corp. reported adjusted earnings of $3.36 billion or $1.19 per share for the period.

Analysts on average had expected the company to earn $1.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.7% to $12.45 billion from $11.45 billion last year.

Oracle Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $2.42 Bln. vs. $1.55 Bln. last year. -EPS (Q1): $0.86 vs. $0.56 last year. -Analyst Estimate: $1.07 -Revenue (Q1): $12.45 Bln vs. $11.45 Bln last year.