Oracle posts strong Q4 earnings, chips away at SAP’s market share

oracle-logoThe technology giant, Oracle Inc., today released earnings for the fourth quarter of 2010.

The company posted strong revenues and net earnings.

Revenue for Q4 ’10, ended May 31st, was up almost 40-percent from Q4 ’09 to $6.6-billion.

Oracle reported $2.4-billion ($0.46 per share) in net profits in the period, up significantly from $1.9-billion ($0.38 per share) in the same period last year.

Revenue in the period was also boosted from Oracle’s recent Sun Microsystems acquisition, the same company that developed the Java computer language that is installed on more than 1-billion machines worldwide.

Oracle Inc. confirmed they would acquire Sun Microsystems on April 20, 2009, in a deal worth $7.4-billion ($9.50 per share), or $5.6-billion net of Sun’s debt.

Oracle said $1.8-billion from total revenue could be attributed directly from the Sun Microsystems acquisition.

Additionally, Oracle President Safra Catz also said in a statement, “Sun contributed over $400-million to non-GAAP operating income in Q4”.

Oracle says the company is continuing to perform well, even chipping away at market share from top rivals including SAP, and is on track of meeting the goal of generating $2-billion in revenue in fiscal 2011.

Oracle said President Charles Phillips, said today, “Oracle’s applications business has
grown 60% in the last four years while SAP’s business is 7% smaller than it was four years ago.”

The Oracle stock (NASDAQ:ORCL) is trading up about 2.86-percent to $22.85 per share at mid-day trading following the strong earnings that beat Wall Street analyst expectations.


tag TAGS: ,
Short URL: http://business2press.com?p=6753
Recommended:
b2p Ensure that you follow us on Twitter and Like us on Facebook
Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to peggy@business2press.com
checkmark
We are perfectly committed to the highest ethical and professional codes of conduct and standards in the industry on a firm wide basis. Learn more about us, our contributors, and our governance
b2p
We encourage you to comment. Comments are moderated. Comments that are abusive, off-topic, have marginal substance, or include promotional content will be removed. We cannot facilitate requests to edit or remove comments, or explain moderation decisions

Business 2.0 Press publishes exclusive business tech news and analysis covering start-ups to large-caps from Bay & Wall streets since 2008 from a group of highly knowledgeable industry professionals that abide by the toughest industry codes of conduct and professional standards lightMore

lightAdd value by subscribing (RSS)

logo

StockFractions.com has the most stock ratios for public companies. Get the most comprehensive micro insight on public firms available on the web, all for free.
Stock Fractionsgo

title

Colon cancer is one of the leading causes of death. Irrespective of family history, everyone is exposed to the risk. About 90% of colon cancer cases begin from non-cancerous tumors, polyps, which could form in the large bowel. Screening with a colonoscopy will painlessly remove any polyps hence almost entirely reducing your risk of developing the horrible disease. The good news is that about 90% of colon cancer cases are preventable through a simple (yes, simple) colonoscopy.
Learn moreatom
Public service message from Business 2.0 Press