Oracle 1st-qtr profit rises 25 pct
|
|
|
BOSTON (Reuters) - Oracle Corp , the world's third-largest software maker, reported a 25 percent rise in quarterly profit on Thursday, boosted by higher-than-expected sales of new software.The company's revenue and earnings per share excluding items beat average Wall Street expectations, and its shares rose 1.7 percent to $21.39 in after-hours trading."We continue to take applications market share from SAP," Oracle President Charles Phillips said in a statement.Oracle is the leader in database software, ahead of International Business Machines Corp . It is No. 2 in business applications, behind Germany's SAP AG .Net income jumped to $840 million, or 16 cents per share, for the first quarter ended August 31, from $670 million, or 13 cents, a year earlier.Revenue rose 26 percent to $4.53 billion, beating the average analyst target of $4.36 billion, according to Reuters Estimates.Earnings, excluding items such as stock-based compensation expenses and acquisition-related charges, were 22 cents per share, a penny above the average Wall Street expectation, according to Reuters Estimates.The results were buoyed by sales of products that were not in its lineup a year ago. Oracle added them after buying Hyperion Solutions Corp, Stellent Inc, MetaSolv Inc and several other software makers over the past year.Revenue from new software licenses rose 35 percent from a year earlier to $1.1 billion. Three months ago, it had told investors it expected new software licenses to rise between 20 percent and 30 percent from the year-earlier period.Shares of Oracle trade at about 16 times the average outlook for next year's earnings per share, and slightly above the future price-to-earnings ratio for Microsoft Corp , which is 16.IBM trades at 15 times earnings, and SAP trades at 22 times estimated 2008 earnings.(Reporting by Jim Finkle)
(c) Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
Related News
Five more US bank failures bring total for 2009 to 120
New York - Bank failures in the United States have risen to 120 this year as five more regional institutions were added to the list, the US agency that guarantees the safety of bank deposits said. United Commercial Bank in San Francisco with assets o...
US stocks climb slightly despite double-digit jobless rate
New York - US stocks posted mild gains Friday to end the week as investors shrugged off government figures that put the unemployment rate above 10 per cent. The Labour Department said the jobless rate hit 10.2 per cent in the month of October, the hi...
US joblessness hits 10.2 per cent, highest in 26 years - Summary
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years as another 190,000 people lost their jobs, the Labour Department reported Friday. The figure comes after a 9.8-per-cent jobless rate in September and wa...
US joblessness jumps to 10.2 per cent, highest since 1983 - Update
Washington - The US unemployment rate surged to 10.2 per cent in October, the highest in 26 years, as another 190,000 people lost their jobs during the month, the US reported Friday. The figure reported by US Labour Department came after the 9.8 per ...
US jobless rate jumps to 10.2 per cent
Washington - The US unemployment rate surged to 10.2 per cent in October as another 190,000 people lost their jobs, according to US Labour Department figures released Friday. The jobless rate stood at 9.8 per cent in September. Unemployment had been ...
Bulls stop James, edge Cavs - Summary
Los Angeles - The King couldn't deliver in the clutch. Luol Deng and Joakim Noah combined to deny LeBron James a potential game-winning drive in the final seconds as and the visiting Chicago Bulls snapped the Cleveland Cavaliers' three-game winning...
Mortgage lender Fannie Mae posts nearly 19-billion-dollar loss
Washington - US mortgage lender Fannie Mae said Thursday that it would seek 15 billion dollars in federal aid, after posting its ninth consecutive quarterly loss. Fannie Mae reported a net loss of 18.9 billion dollars in the third quarter of 2009, co...
|
|
|
|
|
|
|
|
