Database software maker Oracle Corp. said Thursday its net income rose 78 percent in the fiscal third quarter, helped by a rise in new software license sales and the benefit of three full months of revenue from Sun Microsystems, a company it acquired last year.
Oracle also issued earnings guidance for the current quarter that is higher than Wall Street expected. Shares climbed in extended trading.
The strong performance by Oracle is further testament to the recovery in business spending on technology. It is also a sign that the acquisition of Sun Microsystems, which turned Oracle into more of a one-stop shop by adding server computers to its software and consulting services lineup, is humming right along.
Read full story from publisher