Oracle performs better than market expectations

Oracle performs better than market expectations

Software giants Oracle Corp. came out with their results and posted a quarterly profit on Tuesday that topped Wall Street estimates.

Oracle benefited from new business software licenses and the share price of the company touched a new high for the last four years.

The company added that they managed to post their strongest first-quarter license growth in more than five years. In addition, they have forecasted 22 percent to 24 percent revenue growth for the second quarter.

Market analysts have said that the company is succeeding in keeping their customer base and added new through acquisitions.

Oracle has in fact spent $20 billion over the past three years acquiring rivals in the industry to expand their market and enhancing their product portfolio.