Oracle Corp reports improved profits

Oracle Corp. has reported that their quarterly profit rose 42 percent. This is one of the best performances by the company in the recent times as they continue spending big on acquisitions to enhance their range of products and services.

However, even this was not good enough to impress the investors in the company as they are disappointed by the payoffs provided by the company. Oracle reported that they earned $765 million, or 14 cents per share, for the three months ending in February. This is an improvement over $540 million, or 10 cents per share, during the same period last year.

After removing the expenses of acquiring so many companies, Oracle’s earnings were around 19 cents per share. This was a bit better than what the market analysts had expected from the company.

In the recent times, Oracle has acquired several companies including rivals PeopleSoft Inc, Siebel Systems Inc., Retek Inc. and many other smaller ones. Oracle is expecting these to help them expand their service offerings to compete with growing competition from companies like Salesforce.

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