Oracle's Profits Decline 15% Due to Peoplesoft

Deseret News (Salt Lake City) › March 23, 2005

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Summary

SAN FRANCISCO -- Fresh off its latest conquest, business software maker Oracle Corp. said its quarterly earnings dropped 15 percent because of the financial fallout from its $10.6 billion acquisition of PeopleSoft Inc.

Excluding the complex accounting for the PeopleSoft takeover, Oracle's earnings were a penny above analyst estimates.

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Oracle's Profits Decline 15% Due to Peoplesoft

Oracle released the results Tuesday afternoon, shortly after the Redwood Shores-based company announced it had outbid German rival SAP to acquire another software maker, Retek Inc., for $11.25 per share, or $669 milli...

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