AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Oracle Corp. (ORCL) on Monday reported fiscal first-quarter earnings of $2.42 billion.
The Austin, Texas-based company said it had net income of 86 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were $1.19 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The software maker posted revenue of $12.45 billion in the period, meeting Street forecasts.