Profits up, sales down for Oracle

Oracle reported a 28 % year-over-year increase in first-quarter profit, but its revenue from new software sales fell short of expectations. Oracle said new sales amounted to US$525 million in the quarter that ended August 31, down 7 % from last year's first-quarter level and well below Wall Street predictions of nearly $600 million. Chief Financial Officer Jeff Henley said the company "had a number of deals slip" during the quarter.

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