Oracle profit down by 7.4%

Oracle Corp., the world’s second- largest software maker, reported fourth-quarter profit that topped analysts’ estimates after customers renewed contracts for product updates and support.

Net income fell to $1.89 billion, or 38 cents a share, last quarter, from $2.04 billion, or 39 cents. Including revenue from acquired companies, sales dropped to $6.88 billion, compared with the $6.47 billion estimate of analysts.

Shares were up 2.8% to $20.44 in recent after-hours trading. Oracle's stock has been rebounding since hitting a three-year low in March.

Japan May Trade Surplus

Japan's trade surplus for May fell 12.1% from the previous year to 299.8 billion yen ($3.14 billion), the Ministry of Finance said Wednesday. The nation's exports fell 40.9% on year, as the trade surplus with the U.S., its biggest export market, shrank 52.9% and its surplus with Europe tumbled 75.4%. Imports slid 42.4 percent from a year earlier, and the trade surplus narrowed 12.1 percent to 299.8 billion yen ($3.1 billion), the Finance Ministry said.