Oracle Advances as Forecast Tops Estimates on Cloud Demand
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Oracle Corp. rose in Nasdaq trading after forecasting fourth-quarter profit that topped analysts’ predictions, a sign of growing demand for database software as well as hardware added by the Sun Microsystems Inc. purchase.
Profit excluding acquisition costs and some other expenses will be 69 cents to 73 cents this quarter, surpassing the 66-cent average estimate of analysts surveyed by Bloomberg, Oracle said on a conference call yesterday. Earnings on that basis were 54 cents a share in the period that ended Feb. 28, also exceeding analysts’ projections.