Oracle Sees Growth From Outsourcing

Oracle's (Quote, Chart) financial reserves saw an infusion of cash from an outpouring of outsourcing contracts secured in the last three months, the company said.

The Redwood Shores, Calif.-based firm, which reported its fiscal third quarter financial statement Thursday, said at least seven new large-scale contracts helped contribute to its $2.5 billion in third quarter revenues and $635 million in net income. Oracle also said its earnings of 12-cents per share were in line with analysts expectations.

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