Oracle Delivers Strong Third Quarter, Raises Dividend

Oracle (ORCL) delivered strong fiscal third quarter results as the company landed large hardware and software deals. The company touted its Exadata and Exalogic sequential sales growth. The software company reported third quarter earnings of $2.11 billion, or 41 cents a share, on revenue of $8.76 billion. Non-GAAP earnings were 54 cents a share. Wall Street was expecting Oracle to report earnings of 50 cents a share on revenue of $8.67 billion. In addition, Oracle raised its dividend to 6 cents a share from 5 cents a share. Oracle president Safra Catz said that the company was “completely confident” that it will deliver $1.5 billion in profit from the Sun business. Mark Hurd, Oracle’s other president, said that all geographies delivered revenue growth 30 percent or higher. Meanwhile, Oracle CEO Larry Ellison gloated as Salesforce.com inked a new multi-year database and middleware contract. By the numbers for the fiscal third... Read more

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