In a distinct sign that the worst of the recession is over, Oracle Corp said on Thursday that its profit jumped 12.5 per cent in the last quarter. Sales also exceeded its expectations, a sign that corporate spending on technology may be poised to rebound from one of its worst-ever slumps.
The business software company also said it expects European antitrust regulators to give its much-delayed approval for Oracle's $7.4-billion acquisition of Sun Microsystems in January without conditions (See: Oracle pledge may break Sun Microsystems logjam at EC).
Oracle is the world's top maker of database software, which helps companies manage information about everything from payroll to sales figures.
Oracle reported after the market closed that its revenue from new software licenses rose 2 per cent in the three months ended 30 November.
That was better than the company's earlier prediction and comes after four straight quarters of decline.
The figure is significant because Oracle makes most of its money from technical support contracts for existing customers. The more new business it can lock in, the more maintenance contracts it can count on selling in the coming years.