Oracle Corp. Q3 Profit Increases, beats estimates

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

The company's earnings totaled $2.40 billion, or $0.85 per share. This compares with $1.90 billion, or $0.68 per share, in last year's third quarter.

Excluding items, Oracle Corp. reported adjusted earnings of $3.98 billion or $1.41 per share for the period.

Analysts on average had expected the company to earn $1.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.1% to $13.28 billion from $12.40 billion last year.

Oracle Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $2.40 Bln. vs. $1.90 Bln. last year. -EPS (Q3): $0.85 vs. $0.68 last year. -Revenue (Q3): $13.28 Bln vs. $12.40 Bln last year.