Oracle Jumps Gun, Preannounces Profit Surge in Q4 2012 Earnings

Tuesday Jun 19th 2012 by Staff

Q4 net income increased 8 percent to $3.5 billion.

eWeek: In an unusual move, Oracle announced its fourth quarter earnings three days earlier than scheduled. The company report net income of $3.5 billion, or 69 cents a share, an increase of 8 percent. Revenue climbed 1 percent year-over-year to reach $11 billion.

The company pointed to its new cloud services as part of the reason for its success. "Our Oracle Cloud SaaS business is nearly at a billion-dollar revenue run rate, the same size as our engineered systems hardware business," said CEO Larry Ellison. "The combination of engineered systems and the Oracle Cloud will drive Oracle's growth in FY 2013."

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