Oracle's earnings soar

Robust software sales pushed Oracle's second-quarter net income up 35 percent compared to the same period last year, to US$1.3 billion, or $0.25 per share, the company said Wednesday.

Total revenue grew by 28 percent to $5.3 billion, Oracle said.

Excluding one-time charges, Oracle's reported earnings per share were $0.31, beating forecasts of $0.27 per share from analysts polled by Thomson Financial.

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Robust software sales pushed Oracle's second-quarter net income up 35 percent compared to the same period last year, to US$1.3 billion, or $0.25 per share, the company said Wednesday.

Total revenue grew by 28 percent to $5.3 billion, Oracle said.

Excluding one-time charges, Oracle's reported earnings per share were $0.31, beating forecasts of $0.27 per share from analysts polled by Thomson Financial.

Oracle logged major gains in new license revenue for applications, which rose by 63 percent, and in database and middleware products, which logged a 28 percent increase. The company saw services-based revenue grow by 22 percent to $1.2 billion over last year.

(More to follow.)

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