Oracle profit jumps 8 percent, though hardware sales decline
The company sold $4 billion worth of new software licenses during the quarter
Profits at Oracle climbed 8 percent in the quarter just ended, though hardware sales declined and overall revenue was up only slightly.
Oracle's net profit for the quarter, the fourth of its fiscal year, was US$3.5 billion, or $0.69 per share, the company announced Monday.
Revenue came in at $10.9 billion, an increase of 1 percent from a year earlier. Sales of new software licenses increased 7 percent to $4.0 billion, while software license updates and support revenue climbed 5 percent to $4.2 billion.
Sales of Oracle hardware, including the Unix systems business it acquired when it bought Sun Microsystems, were down 16 percent to $997 million, Oracle said.
For the full year, revenue was up 4 percent to $37.1 billion and profits were up 17 percent to $10 billion.