Oracle Profit Jumps 25% to Beat Street Estimates

Before you go, we thought you'd like these...
Before you go close icon
OracleEnterprise software giant Oracle (ORCL) reported a 25% rise in fiscal fourth-quarter earnings, helped by strong sales of new licenses and market share gains at the expense of the company's chief rival, SAP (SAP).

For the three months ended May 31, Oracle posted net income of $2.4 billion, or 46 cents a share, up from $1.9 billion, or 38 cents, booked in last year's fourth quarter. Excluding items, Oracle would have reported earnings of 60 cents a share, well ahead of analysts' average forecast of 54 cents, according to data from Thomson Reuters.

Revenue rose 39% to $9.5 billion from $6.9 billion a year ago, which was in line with Wall Street's average estimate.

"We continue to take large chunks of market share away from SAP," Charles Phillips, Oracle's president, said in a statement. "Over the last twelve months Oracle's applications business has grown 5% on a constant dollar basis while SAP's business has declined 24% over their previous four quarters."
Read Full Story

Markets

S&P 500 2,388.77 1.32 0.06%
DJIA 20,981.33 6.24 0.03%
NASDAQ 6,048.94 23.71 0.39%
DAX 12,445.53 1.74 0.01%
NIKKEI 225 19,196.74 -55.13 -0.29%
HANG SENG 24,615.13 -83.35 -0.34%
USD (per EUR) 1.09 0.01 0.64%
USD (per CHF) 0.99 0.00 -0.36%
JPY (per USD) 111.37 0.15 0.13%
GBP (per USD) 1.29 0.00 0.37%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners

13 People Recount Their First Kiss Horror Stories 13 People Recount Their First Kiss Horror Stories
Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going Man Suspects His Wife Is Cheating On Him - Then His Daughter Reveals What's Really Going
Large Numbers Of Horses Are Being Stuffed Into These Crates For A Despicable Reason Large Numbers Of Horses Are Being Stuffed Into These Crates For A Despicable Reason