Oracle profit jumps

Oracle Corp., the world's top supplier of database software, posted third-quarter profit that topped analysts' estimates as companies stepped up spending on programs they need to organize data and handle business tasks.

Companies are bulking up on software and hardware that will help them cater to clients expanding in computing via the Internet, through the so-called cloud. That benefits Oracle, which added server machines that help run corporate networks through its acquisition of Sun Microsystems Inc. last year.

New software license sales, a predictor of future revenue, rose 29 percent to $2.21 billion, bolstered by favorable currency exchange rates. That's higher than the $1.98 billion estimate of Jason Maynard, an analyst at Wells Fargo Securities.

Oracle is in the process of releasing new versions of its business applications developed pursuant to this agreement a project known as Fusion.