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Sharp 2Q Profit Gain for Oracle Expected

Posted December 13, 2010 By -     Feedback

The company is expected to report sharp gains in profit and sales.

Oracle Corp. (NASDAQ: ORCL), according to The Wall Street Journal, is expected to report sharp gains in profit and sales when it posts fiscal second-quarter results after the market's close next Thursday.

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"Analysts polled by FactSet Research believe Oracle will report earnings excluding one-time items of 46 cents a share for the period ended in November, and $8.3 billion in revenue.

"That compares with earnings excluding items of 39 cents a share, and $5.9 billion in revenue in the same period last year.

"Oracle is expected to have benefited from a general uptick in corporate spending on information technology, and from contributions made by its growing hardware business, thanks in part to the recent acquisition of hardware specialist Sun Microsystems."

Elsewhere, analyst Trip Chowdhry of Global Equities Research said that Oracle's Exalogic and Exadata lines "are doing extremely well," but that "Oracle's Siebel and Oracle's PeopleSoft are facing headwinds from Salesforce.com and WorkDay."

Read More at WSJ.com

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