Oracle Sales, Profit Top Estimates on Cloud Computing Demand |
| Businessweek - Dec 19, 2012 |
Oracle Corp. (ORC) reported fiscal second- quarter sales and profit that topped analysts’ estimates on growing demand for Internet-based software, which is now on track to bring in more than $1 billion in revenue this year.
Profit excluding some items was 64 cents a share on adjusted revenue of $9.11 billion, the Redwood City, California- based company said yesterday in a statement. That compares with analysts’ average projection for profit of 61 cents on sales of $9.02 billion, according to data (ORCL) compiled by Bloomberg. Adjusted revenue includes some subscription and support contracts, as well as other licensing revenue.
Chief Executive Officer Larry Ellison has been using acquisitions -- including RightNow Technologies Inc. and Taleo Corp. this year -- to add cloud computing software that customers can access online instead of storing on their own servers. That’s bolstering profit margins as Oracle fends off smaller rivals such as Salesforce.com Inc. (CRM) and Workday Inc. (WDAY), which also offer Web-based business products.
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- Posted: 2012-12-19 14:55:08
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