Oracle Reports 25% Sales GrowthOracle Reports 25% Sales Growth

Oracle Thursday reported that sales grew 25% to $2.77 billion in its first quarter ended Aug. 31 and net income was $159 million, up 2% from the same period last year.

Software revenue increased 23% to $2.13 billion. While new license sales of database and middleware software grew just 1% to $492 million, new license sales of applications surged 84% to $127 million, largely as a result of the many application company acquisitions Oracle has made in the last year.

CEO Larry Ellison, in a statement, said the company's goal is to become the top vendor in middleware. Ellison claims Oracle has surpassed BEA Systems Inc., but the company remains behind IBM that IDC has named as the middleware market leader.

Services-related revenue in the quarter grew 34% to $637 million.