Software giant Oracle Corporation (NYSE: ORCL) reported strong growth in the first-quarter profit and revenues. Earnings topped Wall Street’s prediction, while the top-line slightly missed.
At $9.7 billion, revenues were up 4% year-over-year in the first three months of fiscal 2022. But the top-line came in below the market’s projection.
Adjusted earnings moved up to $1.03 per share from $0.93 per share in the first quarter of 2021 and topped the Street view. Net income, including one-off items, was $2.5 billion or $0.86 per share, compared to $2.3 billion or $0.72 per share last year.
Oracle’s shares closed Monday’s regular trading lower and continued to decline during the extended session.
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