Oracle beats outlook, easing “fiscal cliff” worries

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    Technology News

    Oracle signage at Oracle OpenWorld 2012 event in San FranciscoBOSTON (Reuters) – Oracle Corp's quarterly profit beat Wall Street expectations on strong software sales growth, suggesting that the approach of the “fiscal cliff” has yet to crimp corporate spending on technology. Shares of the world's No. 3 software maker rose 2.6 percent on the news. “I would call it an early Christmas present,” FBR Capital Markets analyst Daniel Ives said. “It's a positive sign for the overall technology sector.” The company reported that software sales and cloud software subscriptions rose 17 percent from a year earlier to $2.4 billion in its fiscal second quarter. …

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