wsj;Oracle Tops Analyst Forecasts As Revenue Increases 13%
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Database-software giant Oracle Corp. late Tuesday blew past analysts' estimates by posting a 40% jump in fiscal second-quarter net income.
For the fiscal second quarter ended Nov. 30, the Redwood Shores, Calif., company reported net income of $384.5 million, or 26 cents a diluted share, compared with $274.1 million, or 19 cents a share, in the year-ago period. That topped the consensus estimate of analysts surveyed by First Call/Thomson Financial for net income of 22 cents a share and also beat "whisper" numbers making the rounds on Wall Street of 24 cents a share.
Revenue, meanwhile, increased 13% to $2.32 billion from $2.06 billion in the year-ago period.
Company Profile: Oracle
Oracle said total software license revenue grew 18% compared with last year. Database-software sales increased 17% to $651 million, while applications-software sales increased 31% to $168 million, Oracle said. Services revenue increased 10% to $1.4 billion.
Like most other business-software companies, Oracle is trying to transition away from the less-flashy enterprise resource planning market to the so-called e-business sector.
In November, Oracle announced a major deal with Ford Motor Co. to create a new company to manage the No. 2 auto maker's $300 billion extended supply chain over the Internet. Ford will be the majority owner of Auto-Xchange, which Oracle will run using its new trading-exchange software. The venture is expected to generate as much as $1 billion in revenue within 18 months.
2qr was beautiful, but it's over. Time to look into future now.
InSook Prasad
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