NEW YORK (AP) — Oracle's fiscal third-quarter net income rose 2 percent, helped by higher cloud software subscription revenue, but the results fell slightly short of Wall Street predictions.
In the three months through Feb. 28, the business software maker earned $2.57 billion, or 56 cents per share, up from $2.5 billion, or 52 cents per share, in the same quarter the year before. Excluding one-time items, the company posted an adjusted profit of 68 cents per share.
Revenue rose 4 percent, to $9.31 billion from $8.96 billion, as revenue from new software licenses and cloud software subscriptions increased 4 percent to $2.42 billion.
Analysts polled by FactSet expected a profit of 70 cents per share on $9.36 billion in revenue. Redwood Shores, Calif.-based Oracle Corp. shares fell 5.6 percent in aftermarket trading.