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See the best of Reuters photography. See more The Afghan front On the frontlines of the war in Afghhanistan. Slideshow The Presidential diet President Obama eating things. Slideshow Oracle results ease IT spending worries Tweet Share this Email Print Related News Oracle releases results early, allays concerns over exec departure 12:51am EDT Jury deals big blow to Oracle in Android case versus Google Wed, May 23 2012 Jury deals blow to Oracle in case vs. Google Wed, May 23 2012 Related Topics Tech » Tue Jun 19, 2012 10:51am EDT (Reuters) - Oracle Corp's strong results would help pacify investors worried about macroeconomic weaknesses hurting the world's No. 3 software maker, and the departure of a senior sales executive, analysts said. Oracle reported stronger-than-expected quarterly results on Monday as sales of new software licenses jumped. It also announced an extra $10 billion in share buybacks. The company reported results much before schedule after news of the pending departure of a senior sales executive Keith Block fueled concerns that business was stagnating. "Oracle's results, in our opinion, support our independently derived view that IT buyers are not panicking and they are not slashing budgets - this includes deservedly maligned Europe," Canaccord Genuity analyst Richard Davis said. Oracle, whose chief rivals are Hewlett-Packard Co, Microsoft Corp and International Business Machines Corp, said new software sales growth in the current quarter should be flat to 10 percent higher, despite fears of further weakening in technology spending. "We see the stock returning to strength as this quarter dispels multiple concerns - over the European situation, sales organization changes, slowing appliance momentum, slowing apps support revenue growth," Citi analyst Walter Pritchard said. Shares of the company, which touched a high of $28.75, were trading up 2.5 percent at $27.84 on Tuesday morning on the Nasdaq. (Reporting by Megha Mandavia in Bangalore; Editing by Sriraj Kalluvila) Tech Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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