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Oracle Blasts Forecasts With 35% Profit

Software maker rides spending spree to another big quarter

By Matt Cantor, Newser Staff

Posted Dec 19, 2007 6:25 PM CST

(Newser) – Database software-maker Oracle surprised analysts today, reporting its income surged 35 percent in the second quarter to $1.3 billion, thanks to the success of new programs and customer-support contracts. Experts had expected sales of approximately $5.03 billion, Bloomberg reports, but the company boasted sales of $5.36 billion—pulling in a profit of 25 cents per share.

“A solid result in a challenging environment has to give investors a reason to cheer,” one Morgan Stanley analyst said. “Oracle even beat our expectations for top-line revenue growth.” Spurred by $25 billion spent on acquiring other companies, Oracle is sailing through its seventh consecutive quarter of 20-percent-plus sales growth; the company’s stock has risen 21 percent this year.

Oracle Corp. CEO Larry Ellison, right, and President and CFO Safra Catz, smile during Oracle Open World conference in San Francisco, Wednesday, Nov. 14, 2007. (AP Photo/Paul Sakuma) (Associated Press)

Oracle Corp. CEO Larry Ellison gestures during the Oracle Open World conference in San Francisco, Wednesday, Nov. 14, 2007.(AP Photo/Paul Sakuma) (Associated Press)

The exterior of the Oracle Corp. headquarters in Redwood City, Calif. is seen Sept. 19, 2007.(AP Photo/Paul Sakuma) (Associated Press)

Musician Billy Joel flexes as he introduces Oracle CEO Larry Ellison at Oracle World Conference in San Francisco, Wednesday, Nov. 14, 2007. (AP Photo/Paul Sakuma) (Associated Press)

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Oracle Blasts Forecasts With 35% Profit

Software maker rides spending spree to another big quarter

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Oracle Wins BEA With Sweetened $8.5B Bid

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Oracle Blasts Forecasts With 35% Profit

Software maker rides spending spree to another big quarter

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OTHER STORIES ON OUR RADAR

Silicon Valley • Larry Ellison • Oracle • software • database • tech stocks

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More Newser Stories

Oracle Wins BEA With Sweetened $8.5B Bid

Deal for business software maker closes after Ellison bumps price

With IPO, Ellison Walks $500M Tightrope

NetSuite offering reveals Oracle chief's major stake in rival

Mideast Regimes Use US Software to Censor Web

Firms cite lack of control over how products are used

Mark Hurd: He's Back, Definitely

Ex-HP CEO signs on with Oracle

Mark Hurd: He's Back, Maybe

Disgraced HP chief eyes new gig at Oracle

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Newser By Users

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