Oracle’s 3Q Earnings Top Analyst Forecasts
REDWOOD SHORES (CBS SF/AP) – Oracle’s earnings rose 18 percent despite meager revenue growth during its latest quarter.
The business software maker says it made $2.5 billion, or 49 cents per share, during the three months ending in February. That compares with net income of $2.1 billion, or 41 cents per share, at the same time last year.
If not for acquisition expenses and other costs, Oracle says it would have earned 62 cents per share. That figure exceeded the average estimate of 56 cents per share among analysts surveyed by FactSet.
Revenue increased just 3 percent to $9 billion. That total mirrored analyst forecasts.
Oracle Corp. needed to deliver a solid performance in its fiscal third quarter after stumbling in its previous quarter, which ended in November.
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