IDG News Service - Led by growth in its sales of software license updates and product support, Oracle Corp.'s quarterly profit rose more than 40% year over year during its most recent financial period, the company reported Monday.
With earnings per share of 14 cents, the company reported net income of $765 million for its third quarter of fiscal 2006, which ended Feb. 28. Excluding certain special items, net income was $1 billion, or 19 cents per share, up more than 20% from the previous year.
Total revenue for the quarter came to $3.5 billion, up 14% from the previous year.
Oracle's quarterly results were slightly ahead of analyst expectations of 18 cents per share, excluding special charges, on revenue of $3.5 billion.
Oracle sales jumped as it completed a string of high-profile acquisitions, including the purchases of PeopleSoft and Siebel Systems.
Software revenue was up 16% compared with the previous quarter, with software license updates and product support accounting for $1.8 billion of the company's $2.9 billion in software income.
The company also reported that European new license revenue grew by more than 100% year over year. Overall, new license revenue was up by 16%, totaling $1.1 billion for the quarter.
In my last two articles, the context has been the opportunities and challenges that financial institutions (FIs) have with implementing private clouds successfully. But what about public clouds?
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