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Oracle profit, sales beat the street

Wednesday, June 24, 2009

Oracle Corp's quarterly earnings beat market expectations as profit margins hit a record high and software sales fell less than anticipated, sending its shares up 2.5%.

The No. 3 software maker said Tuesday that it gained share from SAP AG in the market for business management software, a sign it may be continuing to weather the economic downturn better than its main rival.

Morgan Stanley analyst Adam Holt said he believed Oracle is also winning share in its database business, where it competes with International Business Corp. and Microsoft Corp.

Article sourced from http://money.cnn.com, click here to read full story.

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