Oracle Meets Earnings Expectations

By Matt Carolan  |  Posted 2001-12-13

Enterprise software maker Oracle announced late Thursday a net second quarter income of $549 million, with earnings per share of 10 cents. That is down from $622 million and 11 cents per share from the same period last year.

Earnings were in line with expectations of analysts surveyed by First Call/Thomson Financial. Revenue came in below estimates at $2.4 billion.

"It was our toughest quarter in a decade, but we still made over $800 million dollars in operating profit and a 35% operating margin. When the economy improves, we will earn a lot more," said Oracle CEO Larry Ellison in a prepared statement.

After dropping 0.43 or 2.85 percent before the earnings announcement, Oracle shares were up 0.14 to 14.81 in after hours trading, over Thursdays opening price.

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