Oracle fiscal 3Q net income up 78 pct

March 24, 2011
In this March 22, 2011 photo, the company logo for Oracle Corp. headquarters is shown in Redwood City, Calif. Oracle Corp. is scheduled to report its fiscal third quarter results Thursday, March 24, after the market close.(AP Photo/Paul Sakuma)

(AP) -- Database software maker Oracle Corp. said Thursday its net income rose 78 percent in the fiscal third quarter, helped by a rise in new software license sales and the benefit of three full months of revenue from Sun Microsystems, a company it acquired last year.

Net income for the quarter that ended on Feb. 28 increased to $2.1 billion, or 41 cents per share, from $1.2 billion, or 23 cents per share a year earlier.

Excluding certain items, Oracle earned 54 cents per share, more than Wall Street was expecting. Analysts surveyed by FactSet forecast earnings of 50 cents per share.

Revenue jumped 37 percent to $8.8 billion from $6.4 billion, more than the $8.7 billion analysts predicted. The company said revenue increased more than 30 percent in every region worldwide.

Oracle, which makes the database software that underpins everyday transactions, from bank withdrawals to airline reservations, said new software license sales, a key figure for measuring Oracle's growth, increased almost 30 percent to $2.2 billion, above its own forecast for a 10 percent to 20 percent improvement.

Hardware systems revenue more than tripled to $1.7 billion from $458 million in the year-ago quarter. Oracle's $7.3 billion acquisition of Sun Microsystems, a server computer company, closed last January, so last year's quarter only included one month of revenue from Sun. This year's quarter included three months of Sun revenue.

Explore further: Oracle tops forecasts despite sales, profit dip


Related Stories

Oracle tops forecasts despite sales, profit dip

June 23, 2009

(AP) -- Software maker Oracle Corp.'s results topped Wall Street's forecast for the latest quarter Tuesday, despite a 5 percent drop in sales and a 7 percent decline in profit.

Oracle profit slips, but software revenue rises

March 25, 2010

(AP) -- Oracle Corp.'s profit fell 10.5 percent in the latest quarter as the business software maker absorbed Sun Microsystems and its expenses for building and supporting computer servers.

Oracle's net jumps 25 pct in first full Sun qtr

June 24, 2010

(AP) -- Oracle Corp.'s net income jumped 25 percent in the most recent quarter as CEO Larry Ellison trumpeted momentum in the company's efforts to sell computer hardware and in its showdown with IBM Corp.

TI 2Q revenue rises 42 pct as demand roars back

July 19, 2010

(AP) -- Texas Instruments Inc.' second-quarter income and revenue jumped as demand continued to recover after the recession. The company predicted even better results in the new quarter.

Oracle reports profit jump, bucking industry fears

December 16, 2010

(AP) -- Oracle Corp.'s net income jumped 28 percent in the latest quarter, its biggest increase in more than two years and another sign that companies are spending more liberally on technology.

Recommended for you

Internet giants race to faster mobile news apps

October 4, 2015

US tech giants are turning to the news in their competition for mobile users, developing new, faster ways to deliver content, but the benefits for struggling media outlets remain unclear.

Radio frequency 'harvesting' tech unveiled in UK

September 30, 2015

An energy harvesting technology that its developers say will be able to turn ambient radio frequency waves into usable electricity to charge low power devices was unveiled in London on Wednesday.

Professors say US has fallen behind on offshore wind power

September 29, 2015

University of Delaware faculty from the College of Earth, Ocean, and Environment (CEOE), the College of Engineering and the Alfred Lerner School of Business and Economics say that the U.S. has fallen behind in offshore wind ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.