Oracle Corp. posted a higher quarterly profit Tuesday, driven by improved sales of its flagship high-end database software, as corporate spending on technology improved.
In the fiscal fourth quarter ended May 31, Oracle’s net income rose to $990 million, or 19 cents a share, from $858 million, or 16 cents a share, a year earlier, the Redwood Shores, California-based company said.
Revenue rose to $3.08 billion from $2.83 billion.
“They seem to be pretty much in line,” said Charles Di Bona, an analyst at Sanford C. Bernstein & Co. “People must have been expecting a little bit more than that.”
Analysts on average had expected the company to post earnings of 18 cents a share on revenue of $3.07 billion, according to Reuters Estimates.
Di Bona noted that the results mark the third consecutive quarter in which Oracle has posted growth in both earnings and revenue, helped in part by currency effects.
In March, Oracle forecast earnings of 17 cents to 18 cents a share for the fourth quarter. Oracle Corp. posted a higher quarterly profit on Tuesday, driven by improved sales of its flagship high-end database software, as corporate spending on technology improved.
In the fiscal fourth quarter ended May 31, Oracle's net income rose to $990 million, or 19 cents a share, from $858 million, or 16 cents a share, a year earlier, the Redwood Shores, California-based company said.
Revenue rose to $3.08 billion from $2.83 billion.
Analysts on average had expected the company to post earnings of 18 cents a share on revenue of $3.07 billion, according to Reuters Estimates.
In March, Oracle forecast earnings of 17 cents to 18 cents a share for the fourth quarter.