Sybase Q2 Beats, Raises Forecast, Stock Up 5 Percent

Shares of database vendor Sybase (SY), which competes with Oracle (ORCL), are up $1.46, or almost 5 percent, today at $33.85, after the company reported sales fell 2 percent from the year-earlier period but still beat analysts’ estimates. Profit was also higher than expected. The company forecast in line with expectations, though the forecast is affected by the negative impact of a higher dollar.

Sybase revenue fell to $278 million from $287.2 million, but beat an average estimate of $273, while profit per share of 56 cents per share, excluding some costs, was ahead of the consensus 52 cents estimates.

Read the rest of this post on the original site