Oracle Corp. beats projections with Q4 earnings

Oracle Corp. Tuesday announced fiscal fourth-quarter revenue of US$2.8 billion, beating analysts estimates.

In its announcement, the company reported fourth-quarter net income on a GAAP basis of $656 million, after a charge taken for an investment in San Carlos, Calif.-based Liberate Technologies.

Earlier this month, a survey of analysts had projected the company would report earnings of 12 cents per share on revenue of $2.6 billion for the quarter, according to Boston-based First Call/Thomson Financial.

The company today reported revenue for the full fiscal year of 2002 of $9.7 billion, down from $11 billion in fiscal 2001.

"The true test of a management team is how well it performs in tough times," Jeff Henley, Oracle's chief financial officer, said in a statement. "During the worst technology recession I've seen in more than 20 years, Oracle's operating income margins increased to record levels and our operating income declined only 6% this fiscal year. This management team proved it can preserve profits even when times are tough."

Oracle reported third-quarter revenue of $2.2 billion, down from $2.6 billion a year earlier. The company had net income of $508 million during that quarter, which ended Feb. 28, down from $582 million in the third quarter of 2001.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

More about First CallLiberate TechnologiesThomson Financial

Show Comments