Oracle Corp. Q3 Profit Decreases, but beats estimates

(RTTNews) - Oracle Corp. (ORCL) announced a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $1.90 billion, or $0.68 per share. This compares with $2.32 billion, or $0.84 per share, in last year's third quarter.

Excluding items, Oracle Corp. reported adjusted earnings of $3.38 billion or $1.22 per share for the period.

Analysts on average had expected the company to earn $1.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.0% to $12.40 billion from $10.51 billion last year.

Oracle Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $1.90 Bln. vs. $2.32 Bln. last year. -EPS (Q3): $0.68 vs. $0.84 last year. -Analyst Estimates: $1.20 -Revenue (Q3): $12.40 Bln vs. $10.51 Bln last year.