To: StocksDATsoar who wrote (36658 ) 3/14/2000 11:03:00 PM From: Katie Kommando Respond to of 150070
Oracle Tops Analyst Estimates As Database-Software Sales Rise An INTERACTIVE JOURNAL News Roundup REDWOOD SHORES, Calif. -- Oracle Corp. posted earnings late Tuesday that easily topped estimates on strong software sales. The database-software giant said net income came to $763.2 million, or 25 cents a diluted share, for the third quarter ended Feb. 29, compared with earnings of $293.2 million, or 10 cents a share, a year earlier. The current results included $432 million in extraordinary gains related to the sale of 11% of Oracle's holdings in Liberate Technologies. Excluding those gains, Oracle said it would have posted earnings of $498 million, or 17 cents a share, compared with year-ago, split-adjusted earnings excluding gains of $277.1 million, or nine cents a share. The mean estimate of analysts surveyed by First Call/Thomson Financial was for earnings of 13 cents a share. The so-called whisper estimate was for earnings of as much as 16 cents a share. Revenue, meanwhile, jumped 18% to $2.45 billion from $2.08 billion a year earlier. Analysts were looking for Oracle to post revenue of about $2.35 billion. The company said database-software sales increased 32% to $778 million. Total applications-software sales increased 35%, to $199 million, with sales of customer-relationship-management applications growing at a 179% rate. Consulting, education and support revenues grew 10% to $1.4 billion. Oracle has a history of erratic quarterly results. After posting disappointing license revenue in its August quarter, Oracle returned with a solid November quarter, powered by a sales rebound in key product lines and its new CRM and procurement software.