REDWOOD CITY, Calif. (AP) _ Oracle Corp. (ORCL) on Thursday reported fiscal third-quarter net income of $2.75 billion, after reporting a loss in the same period a year earlier.
The Redwood City, California-based company said it had profit of 76 cents per share. Earnings, adjusted for one-time gains and costs, were 87 cents per share.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The software maker posted revenue of $9.61 billion in the period. Its adjusted revenue was $9.62 billion, also topping Street forecasts. Ten analysts surveyed by Zacks expected $9.59 billion.
Oracle shares have increased 17 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 12 percent. In the final minutes of trading on Thursday, shares hit $52.96, an increase of 1 percent in the last 12 months.
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