SAN FRANCISCO -- Oracle Corp.'s quarterly profit surged 21 percent as the business-software maker reaped the latest returns from a two-year shopping spree that has eliminated several major rivals and shored up its product line.
The Redwood Shores, Calif., company said yesterday that it earned $967 million, or 18 cents per share, for the second quarter, ended in November, compared with net income of $798 million, or 15 cents per share, a year earlier.
Revenue totaled $4.16 billion, a 26 percent increase from $3.29 billion at the same time last year.
If not for expenses to cover the cost of acquisitions and employee stock options, Oracle would have earned 22 cents per share, it said. That matched the average estimate among analysts surveyed by Thomson Financial.
Investors appeared to be betting Oracle would top Wall Street forecasts. The shares rose 23 cents to close at $17.91 on the Nasdaq Stock Market before the quarterly results were released. Oracle's stock price has climbed by nearly 50 percent this year, driven by robust earnings growth.
The latest performance marked the fourth consecutive quarter in which Oracle's profit has increased at least 20 percent .