Oracle Profits Up by 25 Percent
Ellison's gang is starting off its fiscal year with a bang. Oracle just reported
a 25 percent
increase in its first quarter profit
. Execs attributed the boost to increased
applications market share, not to the company's bread-and-butter database business.
"We continue to take applications market share from SAP," said Oracle
President Charles E. Phillips Jr. in a prepared statement.
Oracle's net income increased from $670 million last year to $840 million this
year for the first quarter. Not a bad increase. Besides chipping away at SAP's
applications lead, Oracle also added to its bottom line sales from Hyperion,
MetaSolv and several other companies it recently acquired.
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Posted by Lafe Low on September 26, 2007 at 11:57 AM