Earnings: Oracle profit beats forecast; company to pay 1st dividend

Oracle Corp.'s profit and revenue from new software licenses dipped in the latest quarter, but the business software maker's results came in ahead of Wall Street's tepid forecasts. And in a rare sign of confidence these days, the company declared its first dividend.

Oracle's fiscal third-quarter results, reported Wednesday after the market closed, demonstrated that the company was able to sustain a better-than-expected pace of contract signings even as companies pull back on technology spending.

In the latest period, which covered December through February, Redwood Shores, Calif.-based Oracle said it earned $1.33 billion, or 26 cents per share, versus $1.34 billion, also 26 cents per share, in the year-ago period.

Total revenue was $5.45 billion, a 2 percent increase over last year, though Oracle said sales would have jumped 11 percent without currency fluctuations. Analysts predicted $5.42 billion in sales.

Nike Inc. said its profit slipped in its third quarter on charges related to its acquisition of Umbro PLC and on weaker sales.

The Beaverton, Ore.-based athletic apparel company said Wednesday its net income slipped to $243.8 million, or 50 cents per share, for the quarter ended Feb. 28, compared with $463.8 million, or 92 cents per share, in the same period last year.

Nike's revenue fell 2 percent to $4.4 billion.