Oracle Advances as Forecast Tops Estimates on Cloud Demand |
| Bloomberg - Mar 25, 2011 |
Oracle Corp. rose in Nasdaq trading after forecasting fourth-quarter profit that topped analysts’ predictions, a sign of rising demand for database software as well as hardware added by the Sun Microsystems Inc. purchase.
Profit excluding acquisition costs and some other expenses will be 69 cents to 73 cents this quarter, surpassing the 66- cent average estimate of analysts surveyed by Bloomberg, Oracle said on a conference call yesterday. Earnings on that basis were 54 cents a share in the period that ended Feb. 28, also exceeding analysts’ projections.
Chief Executive Officer Larry Ellison is phasing out lower- margin products from Sun, acquired last year, to wring more profit from high-end hardware. A boom in demand for Oracle’s databases used in cloud computing -- the delivery of software and storage over the Internet -- also contributed to a 29 percent gain in new license sales, a predictor of revenue.
Read Full Article from Bloomberg
- Posted: 2011-03-25 11:13:37
| More Stock Investor Place Top Stories |
 |
|
|
|
| Stock Investor Place Top Stories Archive |
|
|
|
