Oracle boosts earnings forecasts
By Mike Tarsala, CBS.MarketWatch.com
Last Update: 4:20 PM ET Dec. 15, 2003
SAN FRANCISCO (CBS.MW) -- Oracle on Monday beat Wall Street earnings expectations with profit that rose 15 percent from last year, due partly to stronger-than-expected sales to new customers.
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Redwood Shores, Calif.-based software maker Oracle (ORCL: news, chart, profile) posted earnings of $617 million, or 12 cents a share, up from $535 million, or 10 cents a share, a year earlier. Analysts polled by Thomson First Call had expected Oracle to earn 11 cents a share, on average.
New software license sales rose 13 percent to $849 million. Analysts had projected new license sales in a range of $760 million to $811 million.
Oracle shares (ORCL: news, chart, profile) fell 13 cents to close at $12.70 in regular-session Nasdaq trading, ahead of the announcement.
Mike Tarsala is a San Francisco-based reporter for CBS.MarketWatch.com