Oracle keeps the worst of slump at bay

BOSTON: Oracle Corp reported quarterly earnings above expectations as the No 3 software maker's profit margin hit a record thanks to robust growth in its maintenance business, sending shares up 2.7 percent.

The company run by billionaire Larry Ellison also reported a smaller-than-expected drop in new software sales and said it grabbed market share from SAP in certain segments - signs that Oracle may be weathering the downturn better than rivals.

"We've been able to push through the economic situation rather well and I have to tell you that I still see the pipeline growing rather significantly," Oracle President Safra Catz said in a conference call.