Tuesday, June 23, 2009

Oracle Releases Profit Report

Tuesday, June 23 Oracle Corp. is expected to release declining sales for the fourth quarter of the year, but according to some experts the business software company finished the period strongly. Oracle is scheduled to report its quarterly results when the market closes. The company is now on the way to finish its $7.4 billion take-over acquisition of Sun Microsystems Inc., a transaction that stunned the technology world when both companies announced it in April. The transaction is supposed to close this summer. This deal is supposed to take Oracle into the market of hardware, an brand new area for the company until now.

As experts state Oracle will post profit of 44 cents per share on $6.47 billion in revenue, that will constitute a 11 percent decline from last year.

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