On December 14, Oracle Corporation announced record second quarter results for the period ended November 30, 1999. For the quarter, net income increased 40% to $384 million, or $0.26 per share, while total revenue grew to $2.3 billion. This compares to net income of $274 million, or $0.19 per share, and revenue of $2.1 billion for the same period a year ago.
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Strong Profits Event Summary Oracle Corp.'s second-quarter earnings rose 40 percent, exceeding even the most optimistic predictions made by the company's top executives last month. With old-line companies largely done fixing Y2K problems, sales are picking up for Oracle's flagship database and applications software, the company said. In addition, fast-growing Internet companies are buying Oracle software to help them manage vast amounts of data (See TEC News Analysis article: IBM and Deutsche Telecom