March 26, 2011 Leave a comment
For the fourth consecutive quarter Oracle beat analyst expectations. The software behemoth’s net income was up 78% compared to the previous period. And revenue, from new software sales, grew an impressive 29% to $2.2bn. This figure is often used by analysts as an indicator of general market performance. It’s great to see growing confidence in IT spend and competitive advantage in Oracle products.
At the time of the announcement Larry was serving jury duty, so Oracle presidents Safra Catz and Mark Hurd performed the usual routine of chest beating against HP, IBM and SAP and feigned surprise at their performance compared to expectations, while setting positive but perhaps modest ambitions for its important Q4.
So, what can we interpret from this set of impressive results?