Cloud lifts Oracle to healthy results

Summary:Oracle reported third-quarter income of $2.5bn and trumpeted success with its Fusion suite of apps for enterprises

After falling short last quarter, Oracle had its work cut out when presenting its Q3 FY2012 earnings statement on Tuesday.

Oracle reported strong third-quarter net income of $2.5bn (£1.6bn), or 49 cents a share (statement). Non-GAAP earnings were 62 cents a share on a revenue of $9.1bn. Wall Street analysts were looking for third-quarter earnings of 56 cents a share on revenue of $9.02bn.

Oracle president Mark Hurd responded in prepared remarks that "Fusion in the Cloud is winning with great success against niche HCM cloud vendors in the US and worldwide", and that Oracle's "modular, integrated platform of 100 apps available in the cloud or on-premise is a key differentiator".

For more on this ZDNet UK-selected story, see Oracle improves with higher Q3 FY12 earnings on ZDNet.com.


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Topics: Tech Industry

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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