Oracle has reported a 13 percent drop in new software sales for the second quarter of 2009, but its results were ahead of analyst expectations.
Oracle remained profitable, posting net income of $1.9 billion, (£1.15 billion), on $6.9 billion (£4.17 billion) in revenue for the quarter, ended 31 May. Excluding one-time charges, Oracle reported $0.46 per share, beating expectations of analysts, who had been looking for earnings of $0.44 per share on about $6.5 billion in revenue, according to a survey done by Thomson Reuters.
While overall revenue was down 5 percent from the same quarter last year, Oracle said that it was pleased with the results, especially in Europe, where the company's applications business grew by 5 percent.
Overall software revenue, including new licenses, updates and product support, was down 3 percent for the quarter, totalling $5.8 billion, Oracle said.