Software giant Oracle Corporation (NYSE: ORCL) on Monday reported an increase in net income, on an adjusted basis, for the third quarter of 2024. Earnings also came in above estimates.
February-quarter revenues totaled $13.3 billion, compared to $12.4 billion in the same period last year. Earnings, excluding special items, were $1.41 per share in the third quarter, compared to $1.22 per share in the prior-year period. The bottom line topped expectations.
On an unadjusted basis, the tech firm reported a net income of $2.40 billion or $0.85 per share for the third quarter, compared to $1.90 billion or $0.68 per share in the corresponding period of 2023.