Oracle Rises After Earnings Forecasts Top Predictions
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Oracle Corp., the second-largest software maker, rose in Nasdaq trading after forecasting profit for this quarter that may top analysts’ predictions, a sign it’s benefiting from an acquisition-fueled expansion into hardware.
Profit excluding certain expenses will be 48 cents to 50 cents a share, Oracle Co-President Safra Catz said yesterday on a conference call. That exceeds the 47-cent average of estimates compiled by Bloomberg. The forecast followed a report showing profit rose to 51 cents in the period ended Nov. 30, higher than analysts’ average prediction of 46 cents.