In a surprise move on Monday, Oracle Corp. announced its fourth-quarter results. The results were reported to analysts at a hurriedly arranged conference call by Oracle’s chief financial officer, Safra Catz.
It was really a baffling decision that the time coincided with an event in which Microsoft Corp. announced a new tablet computer to compete against Apple’s iPad. The coincidence kept securities analysts occupied with the Microsoft announcement.
The business software maker earned 69 cents per share or $3.45 billion, for the 3 months ended in May as compared to 62 cents per share on earnings of $3.2 billion during the same period last year. Had dollar not increased its value against other currencies, Oracle’s revenue would have boosted by 5% from the same period last year because increase in dollar value has impacted profit margin outside the U.S.
During the quarter under review, the company reported an increase of 8% in net income. Oracle additionally reported 7% growth in its sales of latest software licenses which showed that there is a growing demand for technology which assists companies to automate their administrative jobs.
In yet another optimistic sign, Oracle revealed to buy back its $10 billion stock. That must increase Oracle’s future earnings by decreasing the quantity of outstanding shares.Previous Post » Overview Of Yesterdays Biggest Gainers