![]()
MOST SHARED
- Pociask: In The Electronics War Does The Consumer Really Win?
- Peak Oil Closer Than IEA Forecasts Show: Report
- News Corp. May Pull Content From Google Searches
- Jobless Rate to Hit 10.5%, Keeping Fed in Box: Poll
- AIG Moving Toward Repaying Bailout: Moody's
- Justices Poke Fun at Patents for the Abstract
- Can Apple Top Microsoft as Most Valuable Tech Firm?
- Home Prices Sank Further In Most Parts of US in 3rd Quarter
- Dodd Proposes Creating Financial Stability Agency
- Fed Officials Warn About Job Growth, Weak Recovery
- Jobless Rate to Hit 10.5%, Keeping Fed in Box: Poll
- Consumers' Mood Improves, But Will Sales Follow?
- New Lows for Stocks Next Year: Equities Bear
- AIG Moving Toward Repaying Bailout: Moody's
- Peak Oil Closer Than IEA Forecasts Show: Report
- Buffett and the Crisis: 'Brilliant Moves...Surprising Errors'
- Attention Travelers: America Is Now On Sale
Oracle said that quarterly profit rose 35 percent as new software sales soared 38 percent, beating Wall Street expectations at a time when investors are nervous that IT spending is slowing.
![]() |
AP Oracle's headquarters in California. |
Shares of Oracle [ORCL
Loading...
()
] were up more than 3 percent in post-market trading after closing Wednesday down 2.3 percent at $20.76.
The world's No. 2 publicly held software maker reported fiscal second-quarter net income of $1.3 billion, or 25 cents a share, compared with $967 million, or 18 cents a year earlier.
New software sales rose 38 percent from a year earlier to $1.7 billion, led by a 63 percent increase in business management applications. Database and middleware sales rose 28 percent.
Oracle said it had profit excluding items of 31 cents per share, beating analyst forecasts of 27 cents, according to Reuters Estimates.
"It's quite a significant beat,'' said Bert Hochfeld, managing director of Hochfeld Independent Research Group.
"The real issue for Oracle is going to be guidance,'' he said. "I think many people knew or intimated that the quarter was going to be strong with regards to revenue.''
Oracle Chief Financial Officer Safra Catz was scheduled to issue the company's forecast for the current quarter during a conference call later on Wednesday.
Revenue climbed 28 percent to $5.3 billion, above the Reuters Estimates average forecast of $5.04 billion.
Meanwhile,
NetSuite, a software company controlled by Oracle Chief Executive Larry Ellison, on Wednesday raised $161 million with an initial public offering that priced well above expectations. (Read more here)
- From politicians to CEOs to companies, here's your chance to vote for the winners and losers of 2009.
- With prices well below peak, gems could add some sparkle to your investments.
- On the anniversary of the fall of the Berlin Wall, many in the former Eastern Bloc recall communism fondly.
- Do free market libertarians really believe what they say about ethics and shareholder value? The Big Money takes a look.
- The opening of a virtual pet store in “World of Warcraft” could prove a cash bonanza for Activision-Blizzard.
- The health care reform bill that passed the House on Saturday will have a much harder time in the Senate.












