Oracle Earnings Solid but Hardware Sales Slip

The company brought in total quarterly revenue of $10.8 billion, an increase of 12 percent on the same period last year, and a tad above analysts' projections of $10.75 billion.

When all the numbers were tallied, Oracle turned in a record-breaking fourth quarter and fiscal year financial report June 23.
However, a second consecutive quarter of weak data center hardware sales caused its stock to slip more than 6 percent in after-hours trading.
Two hours after the markets closed, Oracle was selling at about $31 per share, down about $1.25 (4 percent).
Investors can't argue with the bottom-line results, however. The full-service IT hardware and software maker brought in total quarterly revenue of $10.8 billion, an increase of 12 percent on the same period last year, and a tad above analysts' projections of $10.75 billion.
For the fiscal year, Oracle brought in revenue of $35.9 billion, a jump of 33 percent from the previous year and a notch over Wall Street's estimate of $35.77 billion. The company earned $2.22 per share, an increase of 33 percent on the prior year -- exceeding consensus forecasts of $2.18.
The enterprise database maker earned 75 cents a share, up from 60 cents in Q4 2010. Analysts surveyed by Thomson Reuters were expecting earnings of 71 cents per share.

Chris Preimesberger

Chris J. Preimesberger

Chris J. Preimesberger is Editor of Features & Analysis at eWEEK, responsible in large part for the publication's coverage areas. In his 12 years and more than 3,900 stories at eWEEK, he...