Oracle meets 2Q profit forecasts

Oracle meets 2Q profit expectations, misses revenue forecasts

Associated Press

REDWOOD CITY, Calif. (AP) _ Oracle Corp. (ORCL) on Thursday reported fiscal second-quarter profit of $2.03 billion.

On a per-share basis, the Redwood City, California-based company said it had net income of 48 cents. Earnings, adjusted for amortization costs and stock option expense, were 61 cents per share.

The results met Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was also for earnings of 61 cents per share.

The software maker posted revenue of $9.07 billion in the period, missing Street forecasts. Eleven analysts surveyed by Zacks expected $9.11 billion.

Oracle shares have climbed 12 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 11 percent. In the final minutes of trading on Thursday, shares hit $40.77, a climb of roughly 7 percent 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

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Keywords: Oracle, Earnings Report