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Oracle profit misses consensus by 39.5% in fiscal Q1

Oracle Corp. said its normalized net income for the fiscal first quarter ended Aug. 31 amounted to 39 cents per share, compared with the S&P Capital IQ consensus estimate of 64 cents per share.

EPS increased 5.9% year over year from 36 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.76 billion, an increase from $1.71 billion in the year-earlier period.

The normalized profit margin rose to 20.4% from 20.4% in the year-earlier period.

Total revenue rose year over year to $8.60 billion from $8.37 billion, and total operating expenses grew on an annual basis to $5.54 billion from $5.43 billion.

Reported net income came to $2.18 billion, or 48 cents per share, compared with $2.20 billion, or 47 cents per share, in the prior-year period.