UPDATE 1-Oracle's new software sales rise 4 percent in first quarter
SAN FRANCISCO, Sept 18 (Reuters) - Oracle Corp said new software sales and Internet-based software subscriptions rose 4 percent to $1.7 billion in its fiscal first quarter, in line with its own forecasts.
The world's No. 3 software maker had forecast that new software sales and subscriptions would be unchanged or rise as much as 8 percent in the first quarter. Investors scrutinize new software sales because they generate high-margin, long-term maintenance contracts and are an important indicator of future profit.
Oracle said on Wednesday that overall revenue rose 2 percent to $8.37 billion in the first quarter, which ended in August. That was a little below the $8.479 billion analysts had expected on average, according to Thomson Reuters I/B/E/S.
Net profit for the first quarter rose to $2.19 billion, or 47 cents per share, compared to $2.03 billion, or 41 cents per share, in the year-ago quarter. On an adjusted basis, Oracle earned 59 cents per share.
Shares of Oracle rose 2.5 percent in extended trade after closing up 1.83 percent at $33.87.