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Oracle Quarterly Earnings Jump

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Oracle Corp. company headquarters in Redwood Shores. (Justin Sullivan/Getty Images)

Oracle Corp. company headquarters in Redwood Shores. (Justin Sullivan/Getty Images)

REDWOOD SHORES (CBS/AP) – Oracle says its latest quarterly earnings rose 18 percent as companies splurged on more software and other technology toward the end of the year.

The results announced Tuesday are an improvement from Oracle’s previous quarter, when the company’s revenue dipped slightly from a year earlier.

The latest quarter spanned September through November. That makes Oracle the first technology bellwether to provide insights into corporate spending since the Nov. 6 re-election of President Obama and negotiations to avoid the so-called fiscal cliff began to heat up.

Oracle Corp. earned $2.6 billion, or 53 cents per share, in its fiscal second quarter. That compares with net income of $2.2 billion, or 43 cents per share, last year.

Revenue increased 3 percent to $9.1 billion.

 

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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