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Thursday, 14 September, 2000, 21:58 GMT 22:58 UK
Profits double at software giant
Home page of Oracle's internet site
Oracle has used its own software to fuel its drive for profits
Software giant Oracle, which lost its president in June, beat Wall Street estimates to post profits up 111%.

Oracle, the world's leading database software company, reported net profits of $501m for the three months to 31 August, more than double the amount reported for the same period last year.

Revenues rose to $2.3bn from $2.0bn the year before, with particular growth in sales of application software, used by companies to boost communications with customers, employees and suppliers.

Growth in the company's core database products was also strong, rising by almost one third over the year.

Concerns over resignation

The results eased concerns over the resignation in June of Ray Lane, the firm's long-time president, following reports that he had fallen out with Oracle's chief executive officer Larry Ellison.

Mr Ellison said the results showed the competitive strength of the company, the world's second largest software firm.

"The spectacular growth in our database business demonstrates that we are continuing to take market share from IBM and Microsoft," he said.

Jeff Henley, Oracle's chief financial officer, predicted figures would continue to improve as the company proceeded with an efficiency drive implemented using its own software.

Revenue growth

Savings would be used to fund income development programmes.

"One year ago Oracle set out to save $1bn annually by using out own... applications," Mr Henley said. " We did that, and more.

"We are beginning to benefit from the sales and marketing productivity gains that will accelerate revenue growth in fiscal 2001."

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See also:

03 Jul 00 | Business
Oracle loses president
29 Jun 00 | Business
Oracle defends Microsoft spying
10 Feb 00 | Microsoft
Oracle: A brief history
10 Feb 00 | Microsoft
Larry Ellison: A profile
12 Oct 99 | The Company File
Oracle calls for Microsoft break-up
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