Oracle beats outlook, shrugs off fiscal debate

Technology giant Oracle said software sales growth will stay strong into the new year despite a looming fiscal crisis that investors have worried could cause a slump in IT spending.

Shares of the world’s No. 3 software maker rose 2.6 per cent after it reported fiscal second-quarter revenue and earnings that surpassed Wall Street forecasts.

Oracle President Safra Catz told investors that businesses were still looking to spend money already allocated to 2012 technology budgets.

via Business feed http://www.scmp.com/business/companies/article/1108014/oracle-beats-outlook-shrugs-fiscal-debate