Oracle Easily Beats Estimates, Raises Guidance (ORCL)

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Shares of Oracle Corp ( ORCL ) are rallying in the pre-market after the company reported second-quarter earnings of 51 cents per share, 5 cents better than the analyst estimate of 46 cents per share.

Oracle reported net income in the quarter ended Nov. 30 rose to $1.9 billion, or 37 cents a share, from the year-ago quarter of $1.45 billion, or 29 cents a share. Revenue climbed 47% to $8.6 billion from $5.9 billion. issuing guidance for the third quarter that was also above analyst expectations. Looking ahead the company expects profit excluding certain expenses to be in the 48 cents to 50 cents a share range, above the 47 cents that analysts predicted.

Analysts believe news from Oracle shows a positive overall I.T. spending environment, with most seeing the trend continue into 2011.

Shares of Oracle Corp are trading up 4% in the pre-market.

The Bottom Line
Shares of Oracle Corp. ( ORCL ) have a .66% dividend yield, based on last night's closing stock price of $30.27. The stock has technical support in the $27 price area. If the shares can continue to build momentum, we see overhead resistance around the $35 price levels.

Oracle Corp. ( ORCL ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: ORCL

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