Oracle’s net income jumps 20 percent amid drama over hiring of former Hewlett-Packard chiefBy Jordan Robertson, AP
Thursday, September 16, 2010
Oracle’s net income jumps 20 pct in latest quarter
SAN FRANCISCO — Oracle’s net income swelled 20 percent as it reaped the rewards of businesses spending more freely on technology than they did last year.
The world’s biggest database software maker has landed a starring role in Silicon Valley’s latest soap opera with the hiring of the ousted chief of Hewlett-Packard Co. But Oracle Corp.’s core business is what helped it prosper in the latest quarter.
Net income was $1.35 billion, or 27 cents per share. Excluding one-time items, earnings came to 42 cents per share, higher than the 37 cents per share that analysts polled by Thomson Reuters expected on that same basis.
Revenue was $7.5 billion, topping the $7.27 billion analysts were expecting. That’s a 48 percent improvement from last year, when Oracle raked in $5.05 billion in revenue.