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Oracle 3Q Earnings Soar On Hefty Sales Increase

CEO Ellison predicts that new search technology and the recently completed Siebel acquisition will further fuel Oracle's growth.

Oracle Monday reported that earnings surged 42% in its third fiscal quarter, ended Feb. 28th, to $765 million on an 18% jump in revenue to just under $3.5 billion.

New software license revenue in the quarter was $1.1 billion, up 16% from the same period one year earlier. New database and middleware license revenue increased 5%, said Safra Catz, Oracle president and CFO, while new application license revenue increased 77%. Services revenue increased 9% to $671 million. "We reported record revenues for the quarter," said Catz.

CEO Larry Ellison noted that Oracle announced a major new product, Secure Enterprise Search, and completed the acquisition of CRM software supplier Siebel Systems during the quarter. The market for enterprise search and customer relationship management software are both "red hot and will be engines for growth for Oracle for years to come," Ellison said in a prepared statement.

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