REDWOOD CITY, Calif. (AP) _ Oracle Corp. (ORCL) on Thursday reported fiscal first-quarter net income of $2.25 billion.
On a per-share basis, the Redwood City, California-based company said it had net income of 72 cents. Earnings, adjusted for stock option expense and amortization costs, came to 93 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The software maker posted revenue of $9.37 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $9.15 billion.
Oracle shares have risen nearly 8% since the beginning of the year, while the Standard & Poor's 500 index has risen roughly 4%. In the final minutes of trading on Thursday, shares hit $57.09, a climb of almost 3% in the last 12 months.