Q3 net income up 78%: Oracle

Oracle Corp has revealed that its net income rose 78 per cent in the third fiscal, as it was enhanced by a rise in new software license sales and the coming-in of three full months of revenue from newly acquired Sun Microsystems. Net income for the quarter increased to $2.1 billion, or 41 cents per share, from $1.2 billion, or 23 cents per share a year earlier. Excluding certain items, Oracle earned 54 cents per share, more than Wall Street was expecting. Analysts surveyed by FactSet forecast earnings of 50 cents per share. Revenue jumped 37 per cent to $8.8 billion from $6.4 billion, more than the $8.7 billion analysts predicted. The company said revenue increased more than 30 percent in every region worldwide. Oracle, which makes the database software that underpins everyday transactions, from bank withdrawals to airline reservations, said new software license sales, a key figure for measuring Oracle's growth, increased almost 30 per cent to $2.2 billion, above its own forecast for a 10 per cent to 20 per cent improvement.