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Business software company Oracle reported an 8 per cent rise in profits on Wednesday in its fiscal first quarter as sales edged up 2 per cent from a year earlier.
The company said that it earned $ 2.19 billion in the quarter, compared to $ 2.03 billion in the first quarter of 2012.
Revenues were up from $ 8.18 billion dollars to $ 8.37 billion.
Oracle President Mark Hurd said that the company’s performance boded well for the future as they included a strong bump in software licenses which yield residual income in the future.
“Engineered systems had its best ever Q1 in terms of unit sales, growing over 60 per cent compared with the same quarter last year,” said Hurd in a statement.
“New software license results were especially strong in the Americas, which saw 15 per cent growth in constant currency.”
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