Oracle Tops Wall Street Earnings Estimates

"Oracle (NASDAQ: ORCL) reported a bang up second quarter, beating Wall Street profit estimates. The computer company reported software license updates and product revenues grew 12 percent in the quarter to $3.7 billion.

"The company's net income (non-GAAP) rose 34 percent to $2.6 billion, while earnings per share rose 33 percent to $.051. Total revenues were up 47 percent to $8.6 billion.

"Overall, Oracle reported second-quarter profit, excluding items, of 51 cents per share. That beat the average analyst forecast reported by Thomson Reuters of 46 cents."

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