Oracle acquisitions validated by jump in earnings of 23%
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SAN FRANCISCO — Oracle Corp.’s fiscal fourth-quarter profit topped analyst expectations, providing validation for a $25-billion acquisition spree that has enabled the software maker to narrow rival SAP’s lead in the business applications market.
The Redwood Shores, Calif.-based company said Tuesday that it had earned $1.6 billion, or 31 cents a share, for the three months ended in May. That represented a 23% improvement from net income of $1.3 billion, or 24 cents, in the year-earlier period.
Revenue during Oracle’s busiest quarter of the year totaled $5.83 billion, up 20% from a year earlier.
The revenue was more than $200 million above the average analyst estimate.
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