Oracle Beats Street Projections in Q3 Earnings

Wednesday Mar 21st 2012 by Staff

Strong software sales led to an 18 percent increase in net income.

eWeek: Thanks to strong software sales, Oracle turned in a third-quarter earnings report that beat analyst expectations. The company had revenue of $9.04 billion, a 2.2 percent year-over-year increase. Net income came in at $2.5 billion or 62 cents per share, an 18 percent yearly increase. Analysts had predicted income of 56 cents per share.

In the previous quarter, Oracle failed to meet its software sales goals. This quarter, software sales increased 7 percent. However, Oracle's hardware sales fell 16 percent.

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