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Blogumulus by Roy Tanck and Amanda Fazani

Friday, September 19, 2008

Oracle Tops Q1 Forecasts, Gives Upbeat Profit Outlook

Oracle has again reported a strong performance in reporting our Q1 Earnings and have exceeded Analysts expectations.

Analysts who follow Oracle expected the company to turn in a profit of 27 cents a share on sales of $5.417 billion, according to a consensus from Thomson Reuters, while we earned 29 cents a share in the first quarter.

Oracle Tops Forecasts, Gives Upbeat Profit Outlook

This was followed up with a strong forecast for our 2nd quarter with expectations that our New License Revenue will continue to grow.

Safra Catz appeared unfazed about the ongoing turmoil in the financial sector, saying, "We don't believe it should have a material impact on the quarter."


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