Oracle's fourth quarter better than expected thanks to Sun
Oracle has announced a net quarterly profit above expectations, this suggests that the recovery of IT spending continues with companies investing in large infrastructure.
The specialist said that professional software maker Sun Microsystems servers – acquired in January while he was in deficit – helped, excluding special items, totaling more than $ 400 million operating profit.
"Oracle is ahead of its roadmap," said an analyst with Piper Jaffray.
The company earned for the fourth quarter of fiscal year 2009-2010 ended May 31 net income excluding items of $ 0.60 while analysts on average expected $ 0.54, according to Thomson Reuters IB / E / S.
Turnover increased 39% to $ 9.5 billion, a level in line with market expectations. Oracle has acquired Sun for 5.6 billion dollars.
"We did better than expected both in terms of sales as net income," said Jeff Epstein, CFO of Oracle, said in a statement.
Sales of new software rose 14% from a year ago to $ 3.1 billion.Three months ago, Oracle had told anticipate a sales growth of between 3% and 13%.
The Oracle President Charles Phillips said the group took "significant market share" in its German rival SAP software in business management.
After finishing down 2.03% to 22.22 dollars on Wall Street, the title of Oracle jumped more than 4% in trading after-hours trade.
The action, however, declined by some 16% since it hit a high of nine in mid-April.