Oracle profit tops Wall Street forecast as revenue jumps 17 pct
By Jordan Robertson, APThursday, March 25, 2010
Oracle profit and revenue top Wall Street forecast
SAN FRANCISCO — Oracle Corp.’s quarterly profit edged past Wall Street’s estimates as revenue from new software licenses ratcheted higher for the second quarter in a row.
That is an encouraging sign that big companies are steadily increasing their spending on new technology projects.
Oracle said after the market closed that its net income was $1.2 billion, or 23 cents per share, in the three months ended Feb. 28. That compares with $1.3 billion, or 26 cents per share, in the year-ago period.
Revenue grew 17 percent to $6.4 billion.
Excluding one-time items, the company earned 38 cents per share. On that basis analysts polled by Thomson Reuters had expected Oracle to earn 37 cents per share on $6.3 billion in revenue.
