Oracle Corp. (ORCL) Profit Surges
Oracle Corp.'s fiscal fourth-quarter profit rose 23 percent as the business software maker harvested more sales from the crop of customers picked up in a $25 billion shopping spree that has buried much of its competition.
The Redwood Shores-based company said Tuesday that it earned $1.6 billion, or 31 cents per share, for the three months ended in May. That represented a 23 percent improvement from net income of $1.3 billion, or 24 cents per share, at the same time last year.
It marked the sixth consecutive quarter in which Oracle's profit has surged by at least 20 percent. Management has already promised to boost its earnings by at least 20 percent annually during the next two years, too.
The Redwood Shores-based company said Tuesday that it earned $1.6 billion, or 31 cents per share, for the three months ended in May. That represented a 23 percent improvement from net income of $1.3 billion, or 24 cents per share, at the same time last year.
It marked the sixth consecutive quarter in which Oracle's profit has surged by at least 20 percent. Management has already promised to boost its earnings by at least 20 percent annually during the next two years, too.
Labels: Oracle Corp., ORCL
posted by Stock Administrator @ 9:40 PM
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