18 Mar 1998
Oracle announced a better than expected third quarter profit this week after a disappointing second quarter, writes Nick Huber.
The software giant said that net income for its third quarter ending 28 February, rose 27% to $215 million ? 22 cents per share ? compared to $169.3 million in the previous year. The figure also includes a $37 million acquisition charge.
The consensus share price forecast among analysts was 19 cents, according to First Call.
Oracle?s revenues grew to a record $1.75 billion, up by 27%. The company said that its database server sales grew by 13% from the previous year, topping an earlier estimate of 25%, growth from chief executive Larry Ellison.
Last December, the company lost a large slice of its market value when a sluggish 2% growth rate triggered a plunge in the company?s stock.
On the US-based Silicon Investor bulletin board, one analyst pointed out that Oracle?s 30% growth rate in application software still trails the 50% of its main rivals. In addition, the continued fall-out from the economic crisis in Asia was thought to leave Oracle ?under the gun?.
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