Enterprise software giant Oracle (ORCL) reported a 25% rise in fiscal fourth-quarter earnings, helped by strong sales of new licenses and market share gains at the expense of the company's chief rival, SAP (SAP).
For the three months ended May 31, Oracle posted net income of $2.4 billion, or 46 cents a share, up from $1.9 billion, or 38 cents, booked in last year's fourth quarter. Excluding items, Oracle would have reported earnings of 60 cents a share, well ahead of analysts' average forecast of 54 cents, according to data from Thomson Reuters.
Revenue rose 39% to $9.5 billion from $6.9 billion a year ago, which was in line with Wall Street's average estimate.
"We continue to take large chunks of market share away from SAP," Charles Phillips, Oracle's president, said in a statement. "Over the last twelve months Oracle's applications business has grown 5% on a constant dollar basis while SAP's business has declined 24% over their previous four quarters."
Want to succeed? Then you need goals!View Course »