Oracle Corp. Q1 Profit Increases, Beats Estimates

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

The company's earnings came in at $2.929 billion, or $1.03 per share. This compares with $2.420 billion, or $0.86 per share, in last year's first quarter.

Excluding items, Oracle Corp. reported adjusted earnings of $3.964 billion or $1.39 per share for the period.

Analysts on average had expected the company to earn $1.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.9% to $13.307 billion from $12.453 billion last year.

Oracle Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $2.929 Bln. vs. $2.420 Bln. last year. -EPS (Q1): $1.03 vs. $0.86 last year. -Revenue (Q1): $13.307 Bln vs. $12.453 Bln last year.