Oracle reports an 8% increase in profits

Oracle reported an 8% increase in profits on a 1% increase in sales for the fourth quarter of its 2012 financial year. The business software maker reported sales of $10.9bn for the three-month period to 31 May, which was 1% higher than the same period a year ago. Profits grew to $3.45bn, some 8% higher than the same period last year. During the quarter, software sales of $8.14bn accounted for 75% of Oracle’s total sales, services fell 4% to $1.2bn, which was 11% of the total, and hardware-related sales were down 14% to $1.57bn.

Oracle CEO Larry Ellison said engineered systems such as Exadata as well as cloud computing would drive growth over the next 12 months.

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