Oracle 3rd Qty earnings meets lowered expectation

The world's second-largest software maker said its earnings rose to US$583mln, or 10 cents a share, in its third quarter, from US$503mln, or 8 cents per share, in the year-earlier quarter. The results were in line with Oracle's warning on March 1, when it cut its forecast to 10 cents per share from the 12 cents analysts were expecting. Quarterly revenues rose to US$2.7 billion from US$2.4 billion a year earlier, as database revenues grew 6%, more than expected, and applications revenues grew 25%, less than the 50% the company forecast on March 1. The company had previously forecast 10% to 15% database growth and up to 75% growth in applications software sales.

Related stock : (NIL)