Oracle Q4 profit rises 31 percent

Oracle Corp. reported net income up 31 percent year on year for its fourth fiscal quarter, on revenue up 2 percent over the year-earlier quarter. Revenue from software license updates and product support rose most strongly, while services revenue declined 11 percent, the company announced Thursday.

Total revenue in the fourth quarter rose 2 percent year on year, to US$2.83 billion. Of that, US$1.07 billion came from software license updates and product support, up 12 percent compared to a year earlier, and US$580 million from services, down 11 percent. Other revenue, including new software licenses, rose just 1 percent over the year, to US$1.19 billion.

Net income for the quarter to May 31 totaled US$858 million and earnings per share was US$0.16, beating the consensus estimate of US$0.14 per share compiled by Thomson First Call from the estimates of 36 analysts. In the year-earlier quarter, Oracle reported net income of US$656 million and earnings per share of US$0.12.