Oracle Jumps Gun, Preannounces Profit Surge in Q4 2012 Earnings
Net income increased 8 percent to $3.5 billion, or 69 cents a share, and revenue rose modestly by 1 percent to $11 billion. Ellison says cloud initiative will be a billion-dollar business.In a rare jump-the-gun earnings announcement, Oracle on June 18 took its good news to Wall Street and its investors three days earlier than scheduled, reporting that its fiscal Q4 2012 net income increased 8 percent to $3.5 billion, or 69 cents a share. Thanks to the better-than-expected results, Oracle's shares moved higher in online trading after the bell. The stock had closed down 2 percent at $27.12 prior to the news announcement, but afterward it zoomed up 84 cents, equating to a 3 percent increase in after-hours trading.
Revenue rose 1 percent to $11 billion, compared to year-ago sales of $10.81 billion. New software license revenues rose 7 percent to $4 billion, as software license updates and support revenues rose 5 percent to $4.2 billion; hardware systems revenue fell 16 percent to $977 million.