Oracle Corp reported quarterly profit that exceeded Wall Street projections on Thursday, as its recently acquired Sun Microsystems hardware division added to earnings.
The company said Sun added more than $400 million to Oracle's operating profit, excluding items.
Oracle posted profit, excluding items, of 60 cents per share, for its fiscal fourth quarter ended May 31, handily beating the average Wall Street forecast of 54 cents, according to Thomson Reuters I/B/E/S.
Revenue rose 39 percent to $9.5 billion, in line with Wall Street estimates, after Oracle entered the hardware business following its January purchase of Sun for $5.6 billion.
We executed better than expected on both the top and bottom line, Chief Financial Officer Jeff Epstein said in a statement.
New software sales rose 14 percent from a year earlier to $3.1 billion. Three months ago, the company forecast that sales of software would rise between 3 percent and 13 percent.
Oracle shares rose to $23.15 in extended trade from their Nasdaq close of $22.22. The stock has declined about 16 percent since mid-April when it hit a nine-year high.
(Reporting by Jim Finkle; editing by Carol Bishopric)