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Oracle profits down, despite rise in sales

Net profits at Oracle fell in the third quarter to $540m (£300m) from the $635m (£353m) for the same quarter last year.

Net profits at Oracle fell in the third quarter to $540m (£300m) from the $635m (£353m) for the same quarter last...

year.

The smaller profit came on the back of an 18% increase in sales to $2.95bn (£1.63bn).

Oracle said that despite the profit fall, new database licence sales in the quarter were up 12% to $782m (£434m).

Oracle co-president and interim chief financial officer Safra Catz said the quarter was one of transition, following the acquisition and integration of PeopleSoft, and predicted a much stronger fourth quarter.

Oracle chief executive officer Larry Ellison said, "Solid growth in our database business has enabled Oracle to take market share from IBM all year long."

Ellison cited a report from analyst IDC which said Oracle had increased its database market share from 40.3% to 41.3% over the past 12 months, while runner-up IBM saw its share drop from 31.8% to 30.6%.

"Oracle's gain in market share highlights the accelerating acceptance of Oracle Database Grids as replacements for IBM mainframes," claimed Ellison.

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