Oracle Expected to Post Sharp Profit Gains
Oracle Corp. (NASDAQ: ORCL) is expected to post sharp gains in profit and sales when it reports fiscal third-quarter earnings after the market's close next Thursday. According to this Market Wire release, in particular, Oracle is likely to report 20 percent growth in the sale of new software licenses compared to the period last year. New software license sales are key for Oracle, because they represent new business, as opposed to the sale of maintenance or services to existing customers.
“In addition, Walravens wrote that Oracle's new emphasis on compatible hardware and software appears to be paying off, as businesses are signing on to large deals involving the company's Exadata and Exalogic machines.
“Traditionally a software power, Oracle expanded dramatically into the hardware business when it purchased Sun Microsystems last year. Walravens wrote that he anticipates that Oracle will report quarterly hardware revenue of $1.16 billion.
“Walravens has a Market Outperform rating on Oracle shares, and a $34 price target.”
Read the Full Story at Market Wire
