Oracle Quarterly Profit Spikes 78 Percent

REDWOOD SHORES (AP) — Oracle Corp. reported Thursday its net income rose 78 percent in the most recent quarter. The database software maker was helped by a rise in new software license sales.

Net income for the quarter that ended on Feb. 28 increased to $2.1 billion, or 41 cents per share, from $1.2 billion, or 23 cents per share a year earlier.

Excluding items, Oracle earned 54 cents per share. Analysts surveyed by FactSet forecast earnings of 50 cents per share.

Revenue jumped 37 percent to $8.8 billion from $6.4 billion, more than the $8.7 billion analysts predicted.

Oracle said new software license sales increased almost 30 percent, above its own forecast.

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