Oracle Corp. profit down in Q4; new software sales stayed flat

Nathan Andrada – Fourth Estate Cooperative Contributor

Redwood City, CA, United States (4E) – Oracle Corp. reported sales of new software licenses remained unchanged in its latest quarter, while higher expenses pushed profit down by 4.2 percent.

Per-share profit, unadjusted from certain costs, stood at 92 cents in the three months ended May 31 on revenue of $11.3bn, according to a statement by the company released Thursday. Analysts surveyed by Bloomberg News forecast profit of 96 cents per share and revenue of $11.5bn. The software giant’s forecasts for the current quarter matched analysts’ estimates.

The Redwood City, Calif.-based company said its profit for the fiscal fourth quarter ended May 31 fell to $3.65bn, compared with $3.81bn in the year-earlier period.

New software-license sales, which is a closely watched measure of the company’s future revenue, stayed flat at $3.77bn, Oracle said. Sales of hardware systems during the quarter jumped 2.4 percent to $1.47bn.

Analysts have been more optimistic about Oracle’s ability to stay on top of changes in corporate technology. Its stock has climbed 11 percent this year, compared to a 6 percent advance for the S&P 500 stock index.

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