March 24, 2011 – SEATTLE (Reuters) - Oracle Corp said on Thursday fiscal third-quarter sales rose a better-than expected 37 percent as the business software maker capitalized on resurgent spending on technology.
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The company run by Silicon Valley billionaire Larry Ellison, which last year branched into server hardware through the purchase of Sun Microsystems, reported sales of $8.8 billion, up from $6.4 billion a year ago. That beat Wall Street forecasts of $8.7 billion.
New software license sales, which generate high-margin, long-term maintenance contracts and are a good gauge of the company's future profits, rose 29 percent to $2.2 billion.
(Reporting by Bill Rigby)