Oracle’s Results Surpass Analysts’ Expectations

Oracle has exceeded market expectations. Shares rose 96 cents, or more than 3 percent, to US$28.08 in after-hours trading on Monday.

Oracle Offices, CA., USA
Oracle Offices, CA., USA

Oracle reported financial results late Monday that exceeded Wall Street’s expectations and said it would buy back up to $10 billion of its shares. But the bigger surprise was the timing of the company’s announcement; the numbers were not expected to be released until Thursday.

Safra Catz, Oracle’s chief financial officer, told analysts in a hastily scheduled conference call that the company did not think investors would mind hearing about a solid quarter amid unsettling fears about how Europe’s shaky economy might be affecting business conditions.

It was still a puzzling decision, given that the announcement conflicted with an event in Los Angeles held by Microsoft to unveil a tablet computer to compete against Apple’s iPad. The overlap meant that some of the securities analysts who follow Oracle were focused on the Microsoft announcement.

For its fiscal fourth quarter, Oracle reported an 8 percent increase in net income that topped analysts’ predictions. Oracle also posted a 7 percent gain in its sales of new software licenses, indicating that there was still strong demand for technology that helps businesses automate administrative tasks.

Click Here to read the full The New York Times article.

SOURCE: The New York Times, Wednesday, June 20th, 2012 9:54 AM ET (USA)

About Derek

Derek has worked in the Sales & Marketing Consulting and CRM industries for over 17 years. He's consulted to companies here and overseas helping them develop processes to support their lead generation, marketing and sales businesses. He sees CRM as an enabler and not a solution by and of itself. Implemented with users in mind and a clear view of defined processes, companies can derive great value from their CRM.

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