Oracle 1st-qtr profit rises 25 pct
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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)
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