Fourth-Quarter Profits Rise 23% For Software Maker Oracle
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Oracle Corp., the world’s third-largest software maker, said fourth-quarter profit rose 23%, beating analysts’s estimates, buoyed by database sales and recent acquisitions.
Net income climbed to $1.6 billion, or 31 cents a share, from $1.3 billion, or 24 cents, a year earlier, Redwood City, Calif.-based Oracle said yesterday in a statement. Sales rose 20% to $5.83 billion in the quarter ended May 31.
The chief executive officer of Oracle, Larry Ellison, said he will continue buying companies to enter new markets. He expanded his pool of customers last quarter with four acquisitions, including the $3.3 billion purchase of Hyperion Solutions Corp. Oracle has spent $20 billion purchasing rivals since 2005, making it the most acquisitive company in the industry.
“Application vendors in various sectors and industries are the targets for Oracle,” an analyst at Canaccord Capital Corp., Peter Misek, said in an interview.
