Oracle, the world's second largest manufacturer of computer software, has announced results just ahead of market expectations for the second quarter.

The company said its performance was helped by strong sales of its applications software. Oracle, which employs about 1,000 people in Ireland and this year announced plans to double that number, said pre-tax profits were $623 million (€703 million), or 11 US cents per share, 62 per cent up on the $384 million recorded a year earlier.

Turnover at the Redwood, California-based group, rose to $2.7 billion from $2.3 billion. Database software sales grew by 19 per cent while applications software sales jumped 66 per cent.

The results, which were announced after US markets officially closed last night, saw the share price of the group rise a dollar to $28.50.

Analysts had forecast earnings per share of 10 US cents for the quarter, which ended on November 30th last.