Bellwether firm Oracle, which sells software to corporations and public agencies, reported revenue of $8.37bn (£5.32bn) in the three months to 31 August, up 12 per cent from $7.5bn in the same period last year. Net income came to $1.84bn, up 36 per cent.
New software sales, a gauge of future profit because they generate high-margin long-term service contracts, rose 17 per cent compared with expectations for 15 per cent.
Microsoft last night pledged to raise its quarterly dividend by 25 per cent, in a move that it hopes will satisfy investors clamouring for some of its $53bn cash pile. The raise was ahead of Wall Street expectations.
Meanwhile Adobe Systems allayed investor concerns over slowing sales in Europe as it forecast market-topping fourth-quarter revenue.
The company, which reported third-quarter revenue below expectations, projected sales of $1.08bn (£686m) to $1.13bn for the fourth quarter, ahead of the average forecast of $1.07bn.