Oracle posts 21% jump in quarterly profit
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Oracle Corp.’s quarterly profit surged 21% as the business software maker reaped the latest returns from a two-year shopping spree that has eliminated several major rivals and shored up its product line.
The Redwood City, Calif.,-based company said it earned $967 million, or 18 cents a share, for the three months that ended in November. That compared with net income of $798 million, or 15 cents a share, at the same time last year.
Revenue for Oracle’s fiscal second quarter totaled $4.16 billion, up 26% from $3.29 billion at the same time last year.
Oracle’s shares rose 23 cents to $17.91 before the results were released, then added 3 cents in extended trading.
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