Oracle posts 42% profit increase

Oracle has posted a 42% increase in net profits for the third quarter, on the back of improved software licensing revenue.

Oracle has posted a 42% increase in net profits for the third quarter, on the back of improved software licensing revenue.

For the three months ended 28 February, Oracle saw net profits jump from $540m (£317m) to $765m (£450m), on a year-on-year basis.

Oracle’s group sales also rose from $2.95bn to $3.47bn. Increased sales were helped by Oracle’s acquisition spree over the past 18 months, which has seen it spend a total of $19bn on snapping up rival companies, including PeopleSoft and Retek.

Oracle and its major rival SAP are increasingly focusing on the on-demand hosted customer relationship management (CRM) market.

SAP recently completed the acquisition of CRM heavyweight Siebel and SAP has just launched its own hosted CRM offering to customers.

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