SHARES in Oracle fell sharply after the number one maker of database software suffered severe weakness in many of its core markets in its fiscal third quarter, which it reported after the close of trading yesterday.

The company employs more than 500 people at its manufacturing and distribution centre for Europe, the Middle East and Africa, at Dublin's East Point business park.

Oracle said profits rose 36 per cent to $293.3 million (€268 million), or 20 US cents a share, from $215.1 million, or 14 US cents. Revenue climbed 19 per cent to $2.08 billion (€1.9 billion) from $1.75 billion.

But analysts said results in two of Oracle's main businesses, database and applications software, were weaker than analysts and investors had expecting. Oracle stock was off $8.50 to $28.38 in midday trading of 63.6 million shares.