Oracle has posted a higher-than-expected quarterly net profit, thanks in part to the company’s acquisition of rival PeopleSoft. In pre-market trade, shares of the software giant rose 2.5 percent. Oracle beat the average analyst expectation by 3 cents with earnings of 26 cents per share.
According to a satement by Oracle Co-President Safra Catz, “The rapid integration of PeopleSoft into our business contributed to the strong growth in both applications sales and profits that we saw in the quarter”.
Interested in working with Paul? Schedule a tech call.