Oracle’s net jumps as technology spending loosens

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

SAN FRANCISCO (AP) - Oracle’s net income jumped 28 percent as companies spent more liberally on technology for back offices.

Oracle, one of the world’s biggest software makers, reported after the market closed Thursday that net income was $1.87 billion, or 37 cents per share, compared with $1.46 billion, or 29 cents per share, a year ago.

Sales of new software licenses _ critical for Oracle to lock in new customers for future support contracts _ were stronger than expected, and the company also cited improving profitability for the Sun Microsystems business it bought for $7.3 billion nearly a year ago.

Excluding items, the company earned 51 cents per share, topping the 46 cents per share that analysts polled by Thomson Reuters expected.

Revenue jumped 47 percent to $8.58 billion, higher than expected.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

blog comments powered by Disqus
TWT Video Picks