Oracle fiscal 3Q net income rises 2 pct

March 18, 2014

Oracle said Tuesday its fiscal third-quarter net income rose 2 percent, helped by higher cloud software subscription revenue, but investors wanted more growth and the company's stock fell in late trading.

For the three months through Feb. 28, the business software maker earned $2.57 billion, or 56 cents per share, up from $2.5 billion, or 52 cents per share, in the same quarter the year before. Excluding one-time items, the company posted an adjusted profit of 68 cents per share.

Revenue rose 4 percent, to $9.31 billion from $8.96 billion.

Analysts polled by FactSet expected a profit of 70 cents per share on $9.36 billion in revenue.

Revenue from new and cloud software subscriptions increased 4 percent to $2.42 billion, as bookings for the company's cloud applications jumped more than 60 percent. Revenue from license updates and product support rose 5 percent to $4.56 billion.

Shares of Redwood Shores, California-based Oracle Corp. fell $1.70, or 4.4 percent, to $37.14 in aftermarket trading. The stock has gained 7.8 percent over the past 12 months.

Explore further: Oracle fiscal 2Q net income falls slightly (Update)

Related Stories

Oracle fiscal 2Q net income falls slightly (Update)

December 18, 2013

Oracle's fiscal second-quarter net income edged down slightly, hurt by flat revenue from new software licenses and cloud software subscriptions, but still managed to beat Wall Street predictions.

AT&T posts 4Q profit, higher revenue

January 28, 2014

AT&T is posting stronger-than-expected earnings for the final quarter of 2013, helped by higher revenue from mobile and Internet service subscribers.

Intel 4Q net income rises 6 pct (Update)

January 16, 2014

Intel's fourth-quarter net income rose 6 percent, as the company offset flat demand for its personal computer chips with higher sales of other products.

News Corp fiscal 2Q earns top expectations

February 6, 2014

News Corp., the publishing company controlled by Rupert Murdoch, reported second-quarter earnings that exceeded Wall Street forecasts while revenue declined as expected, reflecting slower advertising sales.

Oracle's profit tops Street, but worries surface

June 23, 2011

(AP) -- Oracle Corp.'s latest quarterly results Thursday underscore the critical role its software business plays despite its push to become a more well-rounded technology vendor by selling computer servers.

Recommended for you

Samsung to disable Note 7 phones in recall effort

December 9, 2016

Samsung announced Friday it would disable its Galaxy Note 7 smartphones in the US market to force remaining owners to stop using the devices, which were recalled for safety reasons.

Swiss unveil stratospheric solar plane

December 7, 2016

Just months after two Swiss pilots completed a historic round-the-world trip in a Sun-powered plane, another Swiss adventurer on Wednesday unveiled a solar plane aimed at reaching the stratosphere.

Solar panels repay their energy 'debt': study

December 6, 2016

The climate-friendly electricity generated by solar panels in the past 40 years has all but cancelled out the polluting energy used to produce them, a study said Tuesday.

0 comments

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.