Oracle Not Selling As Well, But Better than Thought
Planes for Team Oracle perform over Alcatraz Island during a practice session for San Francisco Fleet Week October 5, 2007. (Photo by Jed Jacobsohn/Getty Images)
Updated at 3:45 PM PST on Wednesday, Mar 18, 2009
Oracle Corp. says its profit and the sale of new software licenses dipped in the latest quarter. But the results were better than Wall Street anticipated.
The Redwood Shores, Calif.-based company says it earned $1.33 billion, or 26 cents per share, versus $1.34 billion, also 26 cents per share, during the same period a year ago.
Excluding one-time charges, Oracle earned 35 cents per share. On that basis, analysts surveyed by Thomson Reuters expected 32 cents per share.
Total revenue was $5.45 billion, a 2 percent increase over last year. Analysts predicted $5.42 billion.
A closely watched number for Oracle is its sale of new software licenses.
New software license revenue fell 6 percent to $1.5 billion, which was within the company's guidance. Some analysts were projecting a far worse decline.
Copyright Associated Press