Oracle announced a better than expected third quarter profit yesterday, in a return to growth after a disappointing second quarter.
The software giant said net income for its third quarter ended 28 February rose 27 per cent to $215 million - or 22 cents per share - compared to $169.3 million, 17 cents a share, the previous year. The figure includes a $37 million acquisition charge.
The consensus forecast among analysts was 19 cents a share, according to First Call.
Oracle?s revenues ended at a record $1.75 billion, up 27 per cent. The company said its database server sales grew by 13 per cent from the previous year, topping an earlier estimate of 25 per cent, made by chief executive Larry Ellison.
In the previous quarter, the company lost half its market value when a sluggish two per growth rate triggered a plunge in the company?s stock last December.
On the Silicon Investor bulletin board, one analyst pointed out that Oracle?s 30 per cent growth rate in application software still trails the 50 per cent growth rate of its main rivals in this field. In addition, the continued fall-out from the economic crisis in Asia was thought to leave Oracle ?under the gun.".
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