Oracle Corp., the world's largest maker of database software, rose the most in more than four months after fiscal fourth-quarter profit topped analysts' estimates, buoyed by sales of new software licenses.
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Earnings excluding certain costs were $4.1 billion, or 82 cents a share, the Redwood City, California-based company said in a statement yesterday. That beat the 79-cent average estimate, according to data compiled by Bloomberg.
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Chief Executive Officer Larry Ellison said Oracle won three cloud-computing deals against competitor Workday Inc. during the period ending in May, and also sold a high-end hardware system to Facebook Inc. Software license sales, an indicator of future revenue, rose 6.7 percent to $4 billion.
"Oracle's earnings announcement indicates strong execution by the company in a tough environment," said Abhey Lamba, an analyst at Mizuho Securities in New York, in a note to clients.
The company is looking for growth from sales of cloud- computing applications for human resources and customer management that businesses can access over the Internet instead of installing on internal servers. It's also selling more licenses of its business applications that companies install on their own machines. License sales are important because they lead to future revenue streams from contracts customers sign to support the software.
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