 Oracle's Larry Ellison has had four offers rejected by PeopleSoft |
Oracle, the world's second largest software producer, has seen first quarter profits surge 16% on the back of strong sales of database products. The firm, currently involved in a bitter takeover battle for rival firm PeopleSoft, made a $509m profit against $440m for the same period last year.
The results, amounting to profits of 10 cents a share, topped analysts profit expectations of 9 cents a share.
Oracle's shares rose 7 cents to $10.55 before the results were published.
The California based company generated revenues of $2.22bn in the three months to the end of August, up 7% on the corresponding period last year.
The firm said its strong performance was largely due to double digit sales growth of database software for corporate computing services known as grid systems.
"Oracle is first to market with database grid technology and our database sales are trending up," said Oracle chief executive Larry Ellison.
Oracle received a major boost last Thursday when a US court said the firm could proceed with its $7.7bn bid for PeopleSoft.
PeopleSoft has already rejected four offers from Oracle.
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