Oracle Beats Wall Streetâs Expectations for Quarter
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The business software firm recorded some of its sharpest quarterly growth in a decade, easing fears it would be bruised by the mortgage crisis.
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Strength in the software giant&#39;s mainstay product powered a healthy quarter. Weakness elsewhere shows why PeopleSoft is a target.
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U.S. stocks rose on Friday after  robust results from software maker Oracle Corp   brightened the outlook for technology, helping the Dow and S&P  turn in their best weekly performance since March.
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Oracle Corp. kicked off its new fiscal year with its biggest increase in software sales since the dot-com boom, propelling a first-quarter performance that topped analysts' expectations.
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Oracle Corp.  posted  higher quarterly profit on Thursday on stronger-than-expected  new software license revenue and said it was taking share from  major rivals SAP AG  and IBM
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(InfoWorld) - The tech-heavy Nasdaq has been climbing recently, spurred by some of the usual suspects, such as Google. But Oracle results and prospects for chip makers also inspired confidence among IT investors this week. Expectations have not been great this year for mature areas of the enterprise software market. But Oracle inspired IT investors this week with aÂ strong financial reportÂ that indicates its acquisition strategy has been paying off. Quarterly revenue rose 20 percent to $5.8 billion and profit increased 23 percent to $1.6 billion. Excluding extraordinary charges, Oracle's $0.37 per share in the quarter beat estimates by analysts polled by Thomson Financial, who had forecast $0.35 per share. Oracle shares jumped $0.53 to close at $19.69 on Wednesday, a day after the earnings report, and continued strong. Over the last three years, including theÂ PeopleSoft deal, Oracle has made about 30 purchases for approximately $25 billion. For example, business intelligence software maker Hyperion,Â a recent acquisition, added $43 million to Oracle's new license revenue in the quarter. Oracle is now going after companies that will help the company target sales in vertical markets. On the post-earnings report conference call with analysts, CEO Larry Ellison said that Oracle will continue its acquisition strategy. Meanwhile, Google continues to break records and expectations. Brokerages, including Oppenheimer & Co., Sanford C. Bernstein & Co., and JMP Securities,Â issued bullish analysis reports this weekÂ and raised share-price targets after seeing the company's share price rise about 15 percent over the last quarter. As Google continues to dominate search advertising, however, it has also spent lavishly on R&D, technology infrastructure and acquisitions. Though profit has been great, the spending has sparked some debate. But this week, JMP's Bill Morrison added a new twist to conventional thinking, writing in a research report that the capital expenditures have given Google a cost-efficient technology platform. This platform gives Google an ongoing cost advantage over competitors, he said. After the report, Google shares hit their highest close on Tuesday since the company's 2004 IPO, although they drifted down over the next few days. In the chip sector, a price war between Intel and AMD, coupled with expectations for a soft PC market this year, has caused concern. But some new reports and forecasts have cheered investors lately. Lehman Brothers raised its rating on Intel this week to "overweight" from "equal weight." Lehman analyst Tim Luke cited new product cycles, progress on restructuring, and a reasonable share valuation. The report echoed a similar research paper issued by brokerage Stifel Nicolaus and Co. last week, only that one was directed at AMD. Meanwhile, GartnerÂ said this week that worldwide personal computer shipments are projected to rise 11.1 percent in 2007, higher than previously expected. PC shipments are estimated to increase to 257.1 million from 231.5 million a year earlier as sales in emerging markets grow, Gartner said, in the wake of a similar report several weeks ago from IDC. The news caused shares of Intel and AMD to spike. Intel shares closed at $23.79 Wednesday, up by $0.41, and continued strong Thursday. AMD also spiked on Wednesday, though lost some ground later in the week.
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Oracle Corp  said on Wednesday  that quarterly profit rose 35 percent as new software sales  soared, beating expectations at a time when investors are  nervous that IT spending is slowing, and its shares climbed 4  percent.
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SAN FRANCISCO - Oracle Corp. topped Wall Street's profit forecast, but the business software maker saw sales of its business applications software slide 36 percent - with the reversal of that slump a key goal behind Oracle's tenacious pursuit of rival PeopleSoft Inc...
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Oracle Corp. ORCL.O posted a   quarterly profit on Tuesday that topped Wall Street estimates   as new business software license revenue rose, sending its   shares up 13 percent to their highest in four years.
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U.S. stocks jumped on Friday as higher-than-expected results from software maker Oracle Corp  and a share buyback from Texas Instruments Inc  boosted technology shares.
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Oracle Corp.  posted a  quarterly profit on Tuesday that topped Wall Street estimates  as new business software license revenue rose, sending its  shares up 13 percent to their highest in four years.
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Oracle Corp. (ORCL.O: Quote, Profile, Research) on Tuesday reported a 16 percent rise in quarterly net income as the world&#39;s second largest software company benefited
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Oracle Corp.'s fiscal fourth-quarter profit topped analyst expectations, providing further validation for a $25 billion shopping spree that has enabled the software maker to narrow rival SAP AG's long-standing lead in the business applications market.
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Stocks rose on Thursday after reassuring results from Oracle Corp  and a higher earnings outlook from Qualcomm Inc  helped to lift the technology sector.
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Oracle reported second-quarter 2005 earnings that beat analyst expectations on Monday, thanks to new software revenue and continued gains from licence updates and product support.
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Stocks opened higher as investors grew encouraged following Oracleâs strong earnings, despite Bear Stearns first-ever quarterly loss.
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Fresh off a surprising legal victory in its bid to acquire PeopleSoft, Oracle reported a 16 percent jump in profit Tuesday, beating Wall Street&#39;s estimate by a penny.