Oracle Corp's second-quarter profit fell 2.7 percent, less of a decline than forecast, as new database sales at the world's third-biggest software maker rose for the first time in six quarters. \nNet income fell to US$534.9 million, or US$0.10 a share, in the quarter ended Nov. 30, from US$549.5 million, or 10 cents, a year earlier, Oracle said in a statement. Sales fell 3 percent to $2.31 billion from US$2.38 billion. The shares rose on the report. \nNew database sales rose 0.5 percent to US$643.4 million. Profit exceeded the forecast of US$0.08 to US$0.09 a share Oracle gave in September. Oracle's report may signal that companies are starting to buy business software again after a slump that's lasted almost two years, investors said. \n"I'm definitely surprised," said Christian Koch, senior technology analyst at Trusco Capital Management, which oversees US$50 billion and sold its Oracle shares earlier this year. "Things are not as bad as Wall Street or the companies perceive." \nSales of license renewals and product support climbed 8.2 percent to US$953.6 million. Sales of new software licenses fell 6.5 percent to US$751.5 million, less of a drop than the 10 percent to 15 percent decline the company forecast in September. \nOracle eliminated 850 jobs in the quarter, or 2 percent of its workforce, more than previously forecast. About 85 percent of the jobs were in consulting, Chief Financial Officer Jeff Henley said on a conference call with reporters. The company will dismiss a "couple hundred" more workers this quarter, he said. \nProfit in the third quarter ending in February will be 9 cents to US$0.10 a share, Henley said on a conference call with analysts. Oracle was expected to earn US$0.09, the average estimate of analysts surveyed by Thomson First Call. \nSales will be unchanged to 4 percent higher than last year's third-quarter sales of US$2.25 billion, Henley said. \nThat translates to sales of as much as US$2.34 billion. Analysts on average expect US$2.32 billion, according to First Call. \n"We think we're going to get some real solid top-line growth coming this next quarter, which we haven't had the first two quarters," Chief Executive Larry Ellison said in an interview. \nSales of new software licenses in the third quarter will fall as much as 5 percent or rise as much as 5 percent from the same period last year, when they totaled US$777 million. That translates to a range of US$738.1 million to US$815.8 million. \nOracle shares rose as high as US$11.35 in extended trading after the news was released. \nThe stock, which has fallen 23 percent this year, fell US$0.39 to US$10.63 as of 4pm New York time in NASDAQ Stock Market trading.
BRIBERY CASE: President Tsai Ing-wen accepted Su Jia-chyuan’s resignation as he said that he deeply regretted causing trouble for the president due to the investigation Presidential Office Secretary-General Su Jia-chyuan (蘇嘉全) yesterday resigned after his nephew, Democratic Progressive Party (DPP) Legislator Su Chen-ching (蘇震清), was implicated in a bribery case related to a dispute over the ownership of Pacific Sogo Department Store (太平洋崇光百貨). “I resigned from the post so that President Tsai Ing-wen (蔡英文) would not be bothered by it anymore, and the prosecutors can investigate the case in a fair and just manner. I thank President Tsai once again for supporting me. May the country continue to prosper under her leadership,” Su Jia-chyuan said in a statement. The Presidential Office said that Tsai has accepted
ALEX AZAR: The first visit by a head of the Department of Health and Human Services would strictly observe the CECC’s special regulations, the Ministry of Foreign Affairs said US Secretary of Health and Human Services (HHS) Alex Azar is to lead a delegation to Taiwan — the highest-level visit by a US Cabinet official since the two sides cut formal relations in 1979. The plan was announced yesterday morning by the US Department of Health and Human Services and confirmed by the Ministry of Foreign Affairs (MOFA). Beijing has expressed its concerns to Washington, Chinese Ministry of Foreign Affairs spokesman Wang Wenbin (汪文斌) said later yesterday. Taiwan and the US only issued statements saying that the visit would happen “in the coming days.” MOFA said that due to security concerns, it would
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The military last week sent “no small number” of Marine Corps officers to the Pratas Islands (Dongsha Island, 東沙群島) following reports of a Chinese People’s Liberation Army (PLA) drill targeting the islands scheduled for this month. In an interview with Hong Kong’s Bauhinia Magazine published on Saturday last week, PLA National Defense University professor Li Daguang (李大光) confirmed that the Chinese army was planning to stage a simulated invasion of the Pratas Islands in the South China Sea this month. The islands comprise three atolls, with Pratas Island, at 1.74km2, being the largest. They lie southwest of Taiwan proper in the South