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Oracle’s Results Surpass Analysts’ Expectations

June 19, 2012 No Comments

SOURCE: The New York Times

Oracle reported financial results that exceeded Wall Street’s expectations and said it would buy back up to $10 billion of its shares. But the bigger surprise was the timing of the company’s announcement; the numbers were not expected to be released until Thursday.

Oracle reported an 8 percent increase in net income that topped analysts’ predictions. Oracle also posted a 7 percent gain in its sales of new software licenses, indicating that there was still strong demand for technology that helps businesses automate administrative tasks.

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