Oracle Corp.’s, the world’s third-largest software maker, fourth-quarter profit beat Wall Street expectations, increases 23 percent, as the business software maker harvested more sales from the crop of customers picked up in a $25 billion shopping spree that has buried much of its competition.
Company earned $1.6 billion, or 31 cents per share, for the three months ended in May compare to $1.3 billion, or 24 cents per share, at the same time last year.
In the fourth quarter company revenue rose to $5.83 billion, an increase of 20 percent from $4.85 billion in the same quarter a year ago.
The Redwood Shores-based company marked its sixth consecutive quarter profit as it surged by at least 20%.Management has already promised to boost its earnings by at least 20 percent annually during the next two years, too.
In its latest fiscal year, Oracle earned $4.27 billion, or 81 cents per share, a 26 percent increase from the previous year. Full-year revenue increased 25 percent to hit $18 billion for the first time.
Overall sales of new software licenses, a closely watched measure in the corporate software business, grew 17 percent to $2.48 billion. New license revenue from database and middleware increased 18 percent, while license revenue from its application software was up 13 percent. Services revenue increased 26 percent, to $1.1 billion.
Quarterly profit report pushes Oracle’s Shares as it grows by more than 1 percent to $19.40 after issuing its earnings forecasts, after initially slipping 2 percent from its close at $19.16 on NASDAQ.
Via: CNN
