BOSTON (Reuters) - Business software maker Oracle Corp <ORCL.O> reported quarterly profit in line with expectations but posted a drop in new software sales as the global economic slowdown hurt demand and a stronger dollar hit non-U.S. sales.

"They are managing through this downturn relatively well, but they're not immune for a slowdown," said Jeff Gaggin, an analyst with Avian Securities.

Net income fell to $1.296 billion, or 25 cents a share, from $1.303 billion, or 25 cents, a year earlier.

Oracle, the world's No. 3 software maker, reported per-share profit, excluding special items, of 34 cents, in line with the average forecast of analysts polled by Reuters Estimates.

"These guys have very good control on their spending," said Cowen & Co analyst Peter Goldmacher.

Analysts said that the market would likely react more strongly after Oracle issues its forecasts for the current quarter during a conference call due to begin at 5 p.m. ET.

New software sales, known as license revenue, fell 3 percent from a year earlier to $1.6 billion during Oracle's second quarter ended Nov 30.

Wall Street was expecting new software sales to fall 0.38 percent from a year ago to $1.66 billion, according to a Reuters poll of 12 analysts conducted earlier this week.

Oracle said that the stronger dollar hurt its profit excluding special items by 3 cents per share.

In September, Oracle told investors that it expected second-quarter new software sales to rise between 2 percent and 12 percent, assuming a negative currency impact of 3 percentage points.

During the course of the quarter, the euro fell 13.4 percent versus the dollar and the British pound dropped 15.4 percent against the U.S. currency.

Oracle shares rose 8 cents, or 0.5 percent to $16.69 in extended trade.

(Additional reporting by Jennifer Martinez; Editing by Bernard Orr)

Publié le 18 Décembre 2008 Copyright © 2008 Reuters