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Oracle Sales, Profit Top Estimates on Cloud-Computing Demand

Oracle Corp. reported fiscal second-quarter sales and profit that topped analysts’ estimates on growing demand for Internet-based software, which is now on track to bring in more than $1 billion in revenue this year.

Profit excluding some items was 64 cents a share on adjusted revenue of $9.11 billion, the Redwood City, California-based company said yesterday in a statement. That compares with analysts’ average projection for profit of 61 cents on sales of $9.02 billion, according to data compiled by Bloomberg. Adjusted revenue includes some subscription and support contracts, as well as other licensing revenue.