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Business Briefing / Earnings

Oracle results beat forecasts

March 19, 2009|TIMES WIRE REPORTS

Oracle Corp.'s profit and revenue from new software licenses fell in its fiscal third quarter, but the business software maker's results came in ahead of Wall Street's tepid forecasts.

In the December through February period, Oracle said it earned $1.33 billion, or 26 cents a share, versus $1.34 billion, also 26 cents, a year earlier. Stripping out one-time charges, profit was 35 cents a share, 3 cents better than the average estimate from analysts polled by Thomson Reuters. Revenue was $5.45 billion, a 2% increase over last year, though Oracle said sales would have jumped 11% without currency fluctuations. Analysts had predicted $5.42 billion in sales.

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