Looks like Oracle is still doing well, despite growing competition in the database market and buying out Siebel and Retek cleaned out their pockets. Oracle currently employs more than 57,000 employees worldwide but recently announced plans to cut more than 2,000 jobs following the completion of its $5.8bn purchase of CRM provider Siebel earlier this year.
US database solutions provider Oracle's (Nasdaq: ORCL) fourth fiscal quarter revenue and net profit exceeded forecasts on rising sales of database licenses, the company said in a statement. Total revenues for the period increased 25% to US$4.85bn, compared to US$3.88bn in the year-ago period exceeding previous guidance of 13% to 17% growth. Net profit grow 27% year-over-year in the fourth fiscal quarter, ended May 31, to reach US$1.3bn. New software license revenues increased 32% to US$2.12bn, exceeding previous guidance of 8-18% growth. Database technology license revenues grew 18%, while applications license revenues increased 83%. Organic applications license revenues, which exclude the Siebel and Retek acquisitions, increased 56%. Oracle will announce final results on June 22,2006.
Oracle climbs with 27% growth in 4Q 2006 Earnings source
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