Oracle Corp. posts a 21 percent rise in second-quarter profit

Oracle Corp. posts a 21 percent rise in second-quarter profit

Database Company Oracle has come out with their latest revenue reports and they have posted a 21 percent rise in second-quarter profit.

However, Oracle also said that the sales of their new software application licenses were weaker than Wall Street’s forecast. This resulted in their share taking a beating at the stock market.

Larry Ellison, chief executive of Oracle said: “Our analysis really was on the execution side of things. We think those deals are going to be coming back in Q3 and maybe a few in Q4.”

The company’s net income for the fiscal second quarter rose to $967 million. Revenue was up 26 percent to $4.2 billion.

Ellison further said that the company is expected to win more customers for its databases as it gains traction in the SAP-dominated market for business software applications.