REDWOOD SHORES, Calif. (AP) — Higher software revenue helped lift Oracle Corp.'s fiscal first-quarter net income by 8 percent.
The company's adjusted profit beat Wall Street predictions, while the revenue fell short. Oracle shares are up 32 cents to $34.17 in aftermarket trading.
For the quarter ended Aug. 31, the Redwood Shores, Calif., business software maker earned $2.19 billion, or 47 cents per share, up from $2.03 billion, or 41 cents per share, in the same quarter last year.
Excluding one-time items, the company posted an adjusted profit of 59 cent per share for the recent quarter.
Revenue increased 2 percent to $8.37 billion, as software revenue rose 6 percent to $6.08 billion.
Analysts, on average, expected a profit of 56 cents per share on $8.48 billion in revenue, according to FactSet.