Oracle posts strong quarterly profit and outlook

BOSTON - Software giant Oracle has posted a 35 percent rise in quarterly profit on higher-than-expected software sales and issued a strong outlook, easing concerns it may be hurt by the slowing US economy.

The world's second-largest software maker forecast new license revenue would rise 15 per cent to 25 per cent in the current quarter from a year ago, a growth rate that analysts said was above their expectations.

Oracle also forecast earnings per share excluding items of 29 cents or 30 cents.

- REUTERS