Oracle 2011 Earnings Hit $35.9 Billion
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Oracle's (NASDAQ: ORCL) software business remained strong in its most recent quarter, but hardware sales came in shy of Wall Street estimates.
Oracle reported its fourth quarter fiscal 2011 earnings late Thursday, with revenues of $10.8 billion, a 13 percent year-over-year gain. Net income was up by 27 percent to $3.9 billion. For the full year, Oracle's revenues were $35.9 billion, a 33 percent year-over-year gain. Oracle's Net income for the year was $11.4 billion, a 34 percent increase.
Oracle's gains came in large part from its software businesses. New software license growth grew by 23 percent for the fiscal 2011.
Oracle CEO Larry Ellison use his company's earnings call as an opportunity to take shots at rivals IBM, Salesforce.com and SAP.
"Salesforce.com will be facing very, very serious competition, as Fusion is rolled out this year and SAP has no answers at all, they've got nothing," Ellison said