UPDATE: Oracle Posts Upbeat FQ2 Profit

Oracle

reported upbeat fiscal second-quarter profit. Oracle's quarterly profit surged to $2.58 billion, or $0.53 per share, from $2.19 billion, or $0.43 per share, in the year-ago period. Its adjusted profit came in at $0.64 per share. Its revenue rose to $9.1 billion, from $8.8 billion. However, analysts were expecting a profit of $0.61 per share on revenue of $9.01 billion. Oracle's software revenue rose 11% to $6.6 billion, while hardware systems revenue dropped 16% to $1.3 billion. Oracle shares rose 1.28% to $33.30 in after-hours trading.