This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Oracle Climbs on Big Earnings Beat

REDWOOD SHORES, Calif. ( TheStreet) -- Oracle (ORCL - Get Report) enjoyed a significant bottom-line beat in its third-quarter results, released after market close on Tuesday, comfortably surpassing Wall Street's profit estimates.

Excluding items, the database giant earned 62 cents a share in its fiscal third quarter ended Feb. 29, up 15% from the same period last year, and well above analysts' forecast of 56 cents a share.

Oracle reported its third-quarter results after market close.

Oracle, which posted disappointing second-quarter numbers in December, also brought in non-GAAP revenue of $9.06 billion, an increase of 3% on the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $9.02 billion.

Investors responded positively to Oracle's numbers, pushing the company's stock up 95 cents, or 3.16%, to $31.05 in extended trading.

Oracle's new software license revenue, a key performance metric, was up 7% year-over-year to $2.37 billion.

Revenue from Oracle's hardware products fell 16% year-over-year to $869 million.

"This past quarter Oracle delivered the hardware and software for our new extreme-performance Exalytics In-Memory Machine," said Larry Ellison, the Oracle CEO, in a statement. "At the core of Exalytics is our new in-memory database technology capable of instantaneous big data analysis; questions are answered at the speed of thought."

Oracle's board also declared a quarterly cash dividend of 6 cents a share after market close on Tuesday.

-- Written by James Rogers in New York.

>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.

>To submit a news tip, send an email to: tips@thestreet.com.

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ORCL $43.61 0.00%
AAPL $132.65 0.00%
FB $81.91 0.00%
GOOG $555.37 0.00%
TSLA $231.55 0.00%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs