Oracle Gets Profit Boost From Software Sales

Enterprise software maker Oracle has posted strong results for the last quarter, with their net income rising by 28.25 per cent to $1.87 billion.

The company's revenue for the second quarter also jumped by a whopping 47 per cent to $8.58 billion, compared to $5.85 billion reported in the second fiscal quarter of the previous year.

Oracle's performance was also boosted by a 21 per cent rise from new business licences which brought in $2 billion, while the revenue from the hardware line raked in $1.1 billion.

Oracle president Safra Catz said in a statement that “Our new license growth of 21 per cent demonstrates the strength of the company—specific momentum we are seeing. And our Sun business continues to improve with hardware gross margins increasing to 53 per cent.”

According to the BBC, Analysts have claimed that Oracle's acquisition of Sun Microsystems at the beginning of the year has allowed the company to flourish by offering products in both hardware and software markets.