- Associated Press - Thursday, June 23, 2011

SAN FRANCISCO (AP) - Oracle says its net income rose 36 percent as new sales of business software were at the high end of its expectations. However, the company said revenue from computer servers dropped. Its stock fell.

Oracle Corp. said Thursday that net income for the latest quarter was $3.21 billion, or 62 cents per share, compared with $2.36 billion, or 46 cents per share, a year ago.

Excluding one-time items, the company earned 75 cents per share, higher than the 71 cents per share predicted by analysts polled by FactSet.

Revenue rose 13 percent to $10.78 billion, slightly higher than the $10.76 billion analysts were expecting for the three months that ended May 31

The shares fell $1.69, or 5.2 percent, to $30.77 in extended trading after the results were released.

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