UPDATE 1-NetSuite Q2 beats Street

* Q2 adj EPS $0.3 vs est $0.1

* Q2 rev up 17 pct

Aug 5 (Reuters) - NetSuite Inc (N.N), a maker of Web-based business software for small and mid-sized businesses, posted better-than-expected adjusted quarterly profit, helped by a jump in bookings at its North American segment.

Second-quarter net loss, however, widened to $7.2 million, or 11 cents a share, compared with $5 million, or 8 cents a share, a year ago.

Excluding items, the company earned 3 cents a share, besting analysts' expectations of 1 cent a share, according to Thomson Reuters I/B/E/S.

Bookings through NetSuite's North American channel grew 27 percent.

Revenue at NetSuite, which is majority-owned by Oracle Corp's (ORCL.O) billionaire Chief Executive Larry Ellison, rose 17 percent to $47.1 million. Analysts were expecting revenue of $45.3 million.[ID:nASA00MFZ]

Shares of the San Mateo, California-based company closed at $15.17 Thursday on the New York Stock Exchange. (Reporting by Sayantani Ghosh in Bangalore; Editing by Roshni Menon)