Oracle Profit Rises on Database Demand
Jun 30, 2005 / By Paul Vallee
Oracle has posted a higher-than-expected quarterly net profit, thanks in part to the company’s acquisition of rival PeopleSoft. In pre-market trade, shares of the software giant rose 2.5 percent. Oracle beat the average analyst expectation by 3 cents with earnings of 26 cents per share.
According to a satement by Oracle Co-President Safra Catz, “The rapid integration of PeopleSoft into our business contributed to the strong growth in both applications sales and profits that we saw in the quarter”.
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