Oracle's Profit Rises 36% on Strong Sales

Oracle Corp.'s first-quarter profit climbed 36% as strong sales in its core software business eased concerns that the uncertain economy would stop businesses from spending on technology.

The company, which makes databases and other business software, said Tuesday that its software sales grew 17% in the fiscal period ended Aug. 31, as overall revenue increased 12% from a year earlier. The Redwood Shores, Calif., company predicted growth will continue in the current quarter, but at a slower rate.

But sales of hardware systems—a new business that Oracle entered after acquiring Sun Microsystems last year—fell 5% to $1 billion, the second ...

SOURCE online.wsj.com