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Oracle profit rises 4% but sales decline

September 17, 2009|Times Wire Reports

Software maker Oracle Corp. reported a 4% increase in fiscal first-quarter profit but a drop in sales after orders remained slow overseas.

Net income was $1.12 billion, or 22 cents a share, in the three-month period that ended Aug. 31, compared with $1.08 billion, or 21 cents, a year earlier, the Redwood City, Calif., company said. Including revenue from acquired companies, sales fell 6.6% to $5.06 billion, below analysts' expectations.

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