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Oracle's net income increases 36 percent, but server business declines
SAN FRANCISCO (AP) ' Stronger spending on business software helped Oracle's quarterly profit jump 36 percent, but the company's server business continued to deteriorate, which Oracle says is happening because it is shedding lower-margin deals.
The company said after the market closed Tuesday that its net income rose to $1.84 billion, or 36 cents per share, compared with $1.35 billion, or 27 cents per share, a year earlier.
Its adjusted net income was 48 cents per share, a penny higher than the average forecast of analysts polled by FactSet.
Revenue rose 12 percent to $8.37 billion, slightly exceeding the $8.36 billion that analysts expected.
Revenue from new software licenses rose 17 percent to $1.5 billion, which was the top end of the range Oracle had predicted.