Oracle software sales rise, meet company's target

BOSTON: Technology giant Oracle Corp reported that new software sales rose 7 percent from a year earlier to $2.4 billion in its fiscal third quarter ended Feb. 29, in line with its own forecasts.

It met its key sales goal after missing targets in its second quarter, which caused the company to fall short of Wall Street earnings forecasts for the first time in a decade.

The world's No. 3 software maker had forecast that new software sales would climb between 0 to 10 percent from a year earlier when it last reported earnings on Dec. 20.