Oracle 2Q earnings rise 18 pct as tech spending up

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Associated Press

Posted on December 18, 2012 at 5:02 PM

Updated Tuesday, Dec 18 at 5:02 PM

SAN FRANCISCO (AP) — Oracle says its latest quarterly earnings rose 18 percent as companies splurged on more software and other technology toward the end of the year.

The results announced Tuesday are an improvement from Oracle's previous quarter, when the company's revenue dipped slightly from a year earlier.

The latest quarter spanned September through November. That makes Oracle the first technology bellwether to provide insights into corporate spending since the Nov. 6 re-election of President Obama and negotiations to avoid the so-called fiscal cliff began to heat up.

Oracle Corp. earned $2.6 billion, or 53 cents per share, in its fiscal second quarter. That compares with net income of $2.2 billion, or 43 cents per share, last year.

Revenue increased 3 percent to $9.1 billion.

Oracle is based in Redwood Shores, Calif.

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