Oracle Shares Jump

Shares of Oracle jumped 13% in today’s trading session after the software giant reported better-than-expected results for its third fiscal quarter (via MarketWatch):

Oracle reported net income for its fiscal third-quarter ended in February fell slightly to $1.33 billion, or 26 cents a share, from $1.34 billion, or 26 cents a share, in the same period a year earlier.

Revenue rose 2% to $5.45 billion.

Excluding special items, however, the Redwood Shores, Calif.-based company said earnings for the quarter would have been 35 cents a share.

Analysts on average estimated Oracle would post earnings excluding special items of 32 cents a share, on $5.4 billion in revenue, according to Thomson Reuters.

Oracle managed to exceed expectations despite a strong US dollar, which undercut the company’s results in the third quater by 5 cents, according to Oracle President Safra Catz.

As noted before, well-capitalized companies with a lot of cash on their balance sheets are primed to weather the economic storm and positioned to succeed in the future. Oracle, which implemented its first-ever quarterly dividend of 5 cents a share, just so happend to be on that list.

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