Oracle Q3 net income rises 18% to $2.5 billion

 Software major Oracle Corp has reported an 18 per cent growth in net income to US$2.5 billion in the three months period ended February 29, 2012, driven by new licence sales.

Orcale’s strong quarterly performance was driven by sales of new licence revenue, a key measure of software growth. Although, the company offset the weakness in hardware business.

The entity had a net income of US$2.11 billion in the year-ago period. The company’s total revenues were up three per cent from the corresponding period last year to US$9 billion during the third quarter ended February 29, 2012.

Software sales rose 7 per cent from a year earlier to US$2.4 billion, and revenues from software licence product support grew by 8 per cent to US$4.1 billion. The company’s revenues from hardware business were down 16 per cent to US$869 million.

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