Fresh off its latest conquest, business-software maker Oracle said its quarterly earnings dropped 15 percent because of the financial fallout from its $10.6 billion acquisition of PeopleSoft.
SAN FRANCISCO — Fresh off its latest conquest, business-software maker Oracle said its quarterly earnings dropped 15 percent because of the financial fallout from its $10.6 billion acquisition of PeopleSoft.
Excluding the complex accounting for the PeopleSoft takeover, Oracle’s earnings were a penny above analyst estimates.
Oracle released the results yesterday shortly after the company announced it had outbid German rival SAP to acquire another software maker, Retek, for $11.25 per share, or $669 million.
Meanwhile, Oracle continues to digest PeopleSoft — a pivotal acquisition that is supposed to boost the company’s earnings by at least $400 million annually. The company previously valued the PeopleSoft deal at $10.3 billion, but yesterday said it cost slightly more to complete.
Most Read Stories
- Friends honor artist’s last wishes with water ballet in a Seattle kiddie pool WATCH
- Battling demons in a community looking to Trump for change VIEW
- Conspiracy monger Alex Jones roams Seattle streets, gets coffee dumped on him
- Experts answer your burning questions about the 2017 solar eclipse
- Your guide to enjoying the eclipse from Seattle
Oracle earned $540 million, or 10 cents per share, for the three months ended in February. That compared with net income of $635 million, or 12 cents per share, at the same time last year.
If not for the PeopleSoft takeover charges in its latest quarter, Oracle said it would have earned 16 cents per share. Analysts had forecast earnings of 15 cents per share.
The company delivered its report and earnings forecast after the stock market closed. Oracle’s shares had fallen 16 cents to close at $12.49 on the Nasdaq Stock Market, then fell another 14 cents in extended trading.