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.
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