PeopleSoft merger boosts Oracle quarterly profits

Oracle has posted a stronger-than-expected quarterly profit, boosted by the acquisition of rival software maker PeopleSoft earlier this year.

Oracle chief executive Larry Ellison said customers were spending as global economies grew. Oracle’s profit rose 3% to £566m, for the three months to end of May.

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The firm’s co-president, Safra Catz, said retention of PeopleSoft customers was close to 100%. Some analysts had feared Oracle might not hold on to many PeopleSoft customers.