Oracle beats Wall Street estimates

Oracle Corp. (ORCL) seems to be weathering the decline in corporate technology spending just fine, even as it struggles to win new business.

Net income was $1.33 billion, or 26 cents per share, little changed from the $1.34 billion, or 26 cents per share. Revenue rose two percent to $5.45 billion. Excluding certain one-time items, earnings were 35 cents per share. Analysts had expected earnings of 35 cents on revenue of $5.45 billion, according to Thomson Reuters. The company is so confident that it declared a five cent quarterly dividend, its first ever.