Oracle says new software sales rose 4 percent in third quarter

SAN FRANCISCO, March 18 Tue Mar 18, 2014 4:10pm EDT

SAN FRANCISCO, March 18 (Reuters) - Oracle Corp on Tuesday said new software sales and Internet-based software subscriptions in its fiscal third quarter roes 4 percent from a year earlier.

The software maker had forecast that new software sales and subscriptions would be up between 2 percent and 12 percent in its third quarter, which ended in February. Investors scrutinize new software sales because they generate high-margin, long-term maintenance contracts and are an important indicator of future profit.