Oracle Blasts Forecasts With 35% Profit

Database software-maker Oracle surprised analysts today, reporting its income surged 35 percent in the second quarter to $1.3 billion, thanks to the success of new programs and customer-support contracts. Experts had expected sales of approximately $5.03 billion, Bloomberg reports, but the company boasted sales of $5.36 billion—pulling in a profit of 25 cents per share.

“A solid result in a challenging environment has to give investors a reason to cheer,” one Morgan Stanley analyst said. “Oracle even beat our expectations for top-line revenue growth.”  Spurred by $25 billion spent on acquiring other companies, Oracle is sailing through its seventh consecutive quarter of 20-percent-plus sales growth; the company’s stock has risen 21 percent this year.