Sales
0161 215 3700
0800 458 4545
Support
0800 230 0032
0161 215 3711

Healthy Second Quarter Results for Oracle

Healthy Second Quarter Results for Oracle

Computer company Oracle has reported healthier-than-expected second quarter results thanks to continued technology spending by large corporations.

Oracle confirmed software license updates and product revenues grew 12 percent in the second quarter to $3.7 billion.

The company's net income rose 34 per cent to $2.6 billion, while earnings per share rose 33 percent to $.051. Total revenues were up 47 percent to $8.6 billion.

The adjusted income of 51 cents was above the expectations of Wall Street analysts. They had expected 46 cents on an adjusted basis and revenue of $8.34 billion.

Oracle further impressed investors by issuing guidance for the third quarter that was also above analyst expectations. Profit excluding certain expenses is expected to be 48 cents to 50 cents a share, above the 47 cents that analysts predicted.

The better-than-expected results and guidance sent Oracle's shares up more than 4 percent in after-hours trading to $31.53.

Oracle's primary business of selling and maintaining corporate database software performed particularly well. New software license sales, a driver of future revenue derived from maintenance fees, were up 21 percent to $2 billion. Software license updates and product support sales grew 12 percent to $3.6 billion.


print this article

Return to internet news headlines
View Internet News Archive

Share with: