Software vendor sees turnover increase 18 per cent

Software giant Oracle has posted positive 2006 third quarter figures, with Generally Accepted Accounting Principles (GAAP) revenues up 18 per cent to $3.5bn, while quarterly GAAP net income was up 42 per cent to $765m.

Total software revenues were up 20 per cent to $2.8bn with database and middleware new license revenues up five per cent and applications new license revenues up 77 per cent. Services revenues were up nine per cent to $671m compared to the same quarter last year.

Larry Ellison, chief executive of Oracle, said: "Oracle's product strategy is based on a combination of innovations and acquisitions. Over the last several weeks we announced our internally developed Secure Enterprise Search technology, and the completion of the Siebel acquisition.

"As a result, Oracle now has strong product offerings in both Search and Software as a Service. These two markets are red hot and will be engines for growth for Oracle and the entire software industry for years to come," added Ellison.