Oracle beats forecasts in Q3; declares dividends

Written by: Super Admin
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Mumbai, Mar 19: Oracle has beat all expectations posting an operating margin of 36 per cent for its third fiscal quarter ended Feb 28. It is the highest in the history of the company. It said its quarterly net income fell 1 per cent from a year earlier to $1.3bn (£0.9bn). Software revenues rose 5 per cent.

Oracle said its profits would have increased to 11 per cent if the US dollar was not so strong.

A strong dollar means that the company's deals overseas are not worth as much.

Oracle said it would pay a dividend of 5 US cents per share, or 20 cents annually, its first such payment to shareholders since the company went public in March 1986.

"This is a tremendous achievement in the face of the serious slowdown in the world economy," said Oracle boss Larry Ellison.

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