x Abu Dhabi, UAEMonday 24 July 2017

Oracle's shares rise

Oracle Corporation reported a surprise increase in new software sales and said growth could accelerate this quarter.

BOSTON // Oracle Corporation reported a surprise increase in new software sales and said growth could accelerate this quarter as corporate IT spending picks up, sending its shares 4 per cent higher. The world's number two business software maker, led by Larry Ellison, also expects to win unconditional European Union clearance to close its US$7 billion (Dh25.71bn) acquisition of Sun Microsystems in January. Second-quarter net income to November 30 rose 12.5 per cent to $1.5bn from $1.3bn a year earlier, Oracle said. Revenue rose 4 per cent to $5.86bn. * Reuters