Following an expensive acquisition (Sun Microsystems) and battling both IBM and SAP in the markets, Oracle still managed to post an impressive profit of $1.19 billion, or 23 cents per share, for the quarter ended February 28.
"Every quarter we grab huge chunks of market share from SAP," said Oracle CEO, Larry Ellison. "SAP’s most recent quarter was the best quarter of their year, only down 15%, while Oracle’s application sales were up 21%. But SAP is well ahead of us in the number of CEOs for this year, announcing their third and fourth, while we only had one."
Not entirely surprising, Oracle’s quarterly profit did slip by 11 percent as a result of its digestion of the $7.4 billion deal to bring Sun into its ranks. But according to Oracle’s Chief Financial Officer Jeff Epstein, the acquisition also added $458 million in revenue to the company’s bottom line.
"The Sun integration is going even better than we expected," Oracle President Safra Catz said.