Oracle Cost Cuts Make Up for Sagging Sales

Oracle Corp. (ORCL) appears to be one of the few tech companies on track to meet Wall Street expectations.

The software maker yesterday announced its second fiscal quarter earnings, which showed the first decline in three years. Net income fell and sales slowed. Still, because Oracle is cutting costs in areas including R&D and travel, it’s proving that it can perform well in a tough economy.

"This company can hold the bottom line better than anyone," said Brent Thill, Citigroup's software research director, told BusinessWeek.