REDWOOD SHORES (CBS/AP) – Oracle said its net income rose 36 percent as new sales of business software were at the high end of its expectations. However, the company said revenue from computer servers dropped. Its stock fell.

Oracle Corp. said Thursday that net income for the latest quarter was $3.21 billion, or 62 cents per share, compared with $2.36 billion, or 46 cents per share, a year ago.

Excluding one-time items, the company earned 75 cents per share, higher than the 71 cents per share predicted by analysts polled by FactSet.

Revenue rose 13 percent to $10.78 billion, slightly higher than the $10.76 billion analysts were expecting for the three months that ended May 31.

The shares fell $1.69, or 5.2 percent, to $30.77 in extended trading after the results were released.

(Copyright 2011 by CBSSan Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services may have contributed to this report.)


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