Oracle Corp. fared far better than analysts anticipated in its fiscal second quarter, easing worries that the sagging U.S. economy will curtail corporate spending on technology and drag down the business software maker.Relieved investors drove up Oracle's stock price by more than 6 percent late Wednesday after the results were released.
The Redwood Shores-based company it earned $1.3 billion, or 25 cents per share, for the three months ended Nov. 30, a 35 percent increase from net income of $967 million, or 18 cents per share, at the same time last year.
If not for stock option expenses and the costs incurred in recent acquisitions, Oracle said it would have earned 31 cents per share — four cents per share above the average estimate among analysts surveyed by Thomson Financial.
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