Oracle Rises After Beating Estimates, Cites U.S. Recovery

Oracle Corp. (ORCL), the world's second- largest software maker, rose 5.1 percent in late trading yesterday after topping profit estimates and saying that U.S. customers are once again spending on technology.

"We are definitely seeing customers back buying," Oracle President Safra Catz said on a conference call. "No giant deals of any sort, but lots of very nice-size transactions for every size of company. We are really seeing a recovery."

Second-quarter net income rose 13 percent to $1.46 billion, or 29 cents a share, from $1.3 billion, or 25 cents, a year earlier, Oracle said. Excluding some costs, profit was 39 cents in the period, which ended Nov. 30. Analysts in a Bloomberg survey estimated 36 cents on average.

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- Posted: 2009-12-18 03:07:27

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