Oracle Reports Earnings; Shares Rise (ORCL)

Oracle Corp.

said on Thursday that their fiscal fourth quarter profit increased by 25% as software spending began to pickup steam. The company said that Q4 EPS came in at $0.60 on revenue of $9.5 billion (excluding items). Actual EPS was $0.46, up from $0.38 the year prior. The Street was looking for $0.54 per share on revenue of $9.50 billion. Revenue increased 39% year over year. Oracle President, Safra Catz, said, "We estimate that Sun contributed over $400 million to non-GAAP operating income in our Q4," adding, "this compares with a loss in Sun's quarter ending June of last year, when Sun was an independent company. Now that Sun is profitable, we have increased confidence that we will meet or exceed our goal of Sun contributing $1.5 billion to non-GAAP operating income in FY2011, and $2.0 billion in FY2012." Shares of Oracle Corp. were higher in the after-hours by 4.14%, trading at $23.14.