Oracle Profit Jumps on Record Revenue

Business software maker Oracle Corp. (ORCL) on Thursday said its fiscal fourth profit rose 27 percent on record revenue as sales surged across most of its business lines and geographic regions.

Net income for the three months ending May 31 rose to $1.3 billion, or 24 cents a share, compared with $1 billion, or 20 cents, in the same quarter of last year. Revenue grew 25 percent to $4.85 billion from $3.88 billion. The results were largely in line with estimates the Redwood Shores-based company issued last week.

Excluding acquisition expenses and other costs, Oracle earned 29 cents per share, 1 cent higher than the average estimate among analysts polled by Thomson Financial. Sales also beat Wall Street estimates of $4.7 billion.

Sales of database and related software grew 18 percent.

Oracle released the results after the stock market closed. The company's shares fell 1 cent in extended trading. Earlier, they fell 20 cents to close at $14.33 on the Nasdaq Stock Market.

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