Oracle sees 78 percent jump in Q3 net to $8.8 Billion
Saturday, 26 March 2011, 06:35 IST
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New York: Software major Oracle Corp registered an impressive 78 percent growth in net income to $2.1 billion in the quarter ended February 28, driven by robust sales of new software licenses and the benefit derived from its acquisition of Sun Microsystems during the period. The company's revenues were up 37 percent to $8.8 billion in the third quarter of the 2011 fiscal, Oracle Corp said in a statement. Oracle said new software license sales, a pertinent element in the company's growth, rose by 29 percent to $2.2 billion. The company, which deals in software, database systems and server hardware, said the performance was broad-based, with all geographic areas reporting revenue growth of 30 per cent or higher. Oracle's revenue from the hardware business stood at $1 billion.
Source: PTI
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