FILE – In this Tuesday, March 20, 2012, file photo, a plane flies over Oracle headquarters in Redwood City, Calif. Oracle’s latest quarterly earnings rose 18 percent as companies splurged on more software and other technology toward the end of the year. (AP Photo/Paul Sakuma, File)
SAN FRANCISCO (AP) — Snapping out of a summertime lull, Oracle’s latest quarter demonstrated that companies have been splurging on software and other technology as the year comes to a close, despite uncertainty about the economy’s prospects.
The results announced Tuesday are an improvement from Oracle’s previous quarter, when the business-software maker’s revenue dipped slightly from a year earlier.
The most recent quarter spanned September through November. That makes Oracle the first technology bellwether to provide insights into corporate spending since the Nov. 6 re-election of President Barack Obama. It’s also the first to report since negotiations to avoid the so-called fiscal cliff began to heat up in Washington.
The solid performance by one of the world’s biggest technology suppliers suggests corporate decision makers aren’t fretting too much about the economy falling off the cliff. The fiscal cliff refers to the combination of wide-ranging increases in taxes and cuts in government spending that will be automatically triggered Jan. 1 unless the White House and Congress Login to read more