Oracle quarterly earnings meets expectations

/ Source: The Associated Press

Oracle Corp.'s fiscal first-quarter earnings matched analyst expectations as the business software maker continued to digest its recent acquisition of PeopleSoft Inc. and prepared to devour another longtime nemesis, Siebel Systems Inc.

The Redwood Shores-based company said Thursday that it earned $519 million, or 10 cents per share, for three months ended in August. That mirrored the results posted at the same time last year when Oracle registered net income of $509 million, or 10 cents per share.

Revenue for the period totaled $2.77 billion, a 25 percent increase from $2.22 billion last year.

If not for expenses stemming from its $11.1 billion takeover of PeopleSoft, Oracle said it would have earned 14 cents per share. That figure matched the mean estimate among analysts surveyed by Thomson Financial.

Oracle announced its results about an hour after the stock market closed Thursday, much later than usual.

The company has promised investors that it will boost its profit by about $400 million during the fiscal year ending next May, lifted by the gains from its acquisition of PeopleSoft.

Earlier this month, Oracle struck another blockbuster deal — a $5.85 billion agreement to buy Siebel Systems. With the acquisitions, Oracle hopes to mount a formidable threat to SAP AG's market leadership in business applications software — the computer coding that automates a wide range of administrative tasks.