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Company beats expectations

Tuesday, June 19, 2001 | 10:59 a.m.

SAN FRANCISCO -- Shares of Oracle Corp. jumped 13 percent in early trading today after the world's second largest software maker posted fourth quarter earnings of $855 million, or 15 cents per share, beating analysts' lowered expectations.

Still, Oracle's net income for the quarter dropped 83 percent because of a hefty $6.5 billion investment gain recorded in the year-ago period, the company said Monday.

Investors were pleased with the results, pushing shares up $1.96 to $16.80 in early trading on the Nasdaq Stock Market.

In comments that could raise hopes that the worst is over in the slumping tech industry, Oracle executives told analysts during a conference call that its sales outlook in the United States looks much brighter than three months ago. On the down side, Oracle said sales appear to be weakening in Europe.

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