Oracle: revenue grows, profit falls

The Oracle corporation reported on financial results of the third quarter of the 2010 financial year which came to the end on February 28, 2010. Revenue of the company made 6.4 billion dollars that is 17% higher, than a year ago (5.5 billion dollars). According to in Oracle if not purchase of SUN Microsystems company which was purchased on January 26, 2010 growth of revenue of the company would be only 7%. According to forecasts of analysts revenue of Oracle in the third quarter had to make 6.3 billion dollars.

Proceeds from sales of new software licenses grew by 13% to 1.7 billion dollars, revenue from support of software products increased also by 13% to 3.3 billion dollars. Net profit, on the contrary, was reduced by 10% and was 1.2 billion dollars (1.3 billion dollars in the third quarter 2009 f.).

According to forecasts of Larry Ellison, the CEO of Oracle, within the current quarter the vendor expects growth in sales of new software licenses from 3 to 13%. Oracle claims that increase in income from sale of licenses is sign of future growth as the main part of new clients of Oracle will buy further services in a support and maintenance of software products.

Oracle became the second software maker predicting high sales current quarter. The first the high forecast was published by Adobe Systems company.