Oracle bullish after positive Q3
Software vendor sees turnover increase 18 per cent
Software giant Oracle has posted positive 2006 third quarter figures, with Generally Accepted Accounting Principles (GAAP) revenues up 18 per cent to $3.5bn, while quarterly GAAP net income was up 42 per cent to $765m.
Total software revenues were up 20 per cent to $2.8bn with database and middleware new license revenues up five per cent and applications new license revenues up 77 per cent. Services revenues were up nine per cent to $671m compared to the same quarter last year.
Larry Ellison, chief executive of Oracle, said: "Oracle's product strategy is based on a combination of innovations and acquisitions. Over the last several weeks we announced our internally developed Secure Enterprise Search technology, and the completion of the Siebel acquisition.
"As a result, Oracle now has strong product offerings in both Search and Software as a Service. These two markets are red hot and will be engines for growth for Oracle and the entire software industry for years to come," added Ellison.