Oracle Tops Profit Views, Sales Rise 37%
From MarketWatch:
Oracle (ORCL 32.80, +0.25, +0.76%) said its third-quarter net income rose to $2.1 billion, or 41 cents a share, compared to $1.19 billion, or 23 cents a share, in the same period a year earlier. Revenue for the quarter ended Feb. 28 rose 37% to $8.76 billion. Excluding one-time items, Oracle said earnings for the quarter were 54 cents a share.
Analysts polled by FactSet Research had expected Oracle to report earnings excluding items of 50 cents a share, and $8.7 billion in revenue.
The most notable thing about this news is the fact that much of the quarter’s success was predicated on software sales to new corporate customers. This isn’t maintenance stream stuffing; this is IT departments finally loosing the checkbooks and satisfying some (probably) longstanding requirements.
Also notable is Oracle’s side statement on whether or not the earthquake and tsunami in Japan will have any bearing on short-term future operations:
The Redwood Shores, Calif.-based company also raised its quarterly dividend, and said it doesn’t anticipate a significant negative impact on its business from the recent earthquake and tsunami in Japan — while posting a better-than-expected profit outlook for the current period.
Great news all around for Oracle.
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