Oracle 1Q profit rises 8 pct, tops predictions (Update)

September 18, 2013

Higher software revenue helped lift Oracle Corp.'s fiscal first-quarter net income by 8 percent.

The business software maker's adjusted profit beat Wall Street predictions, while its revenue fell short. Oracle shares rose 33 cents, or 1 percent, to $34.20 in aftermarket trading.

For the quarter ended Aug. 31, the Redwood Shores, California, company earned $2.19 billion, or 47 cents per share, up from $2.03 billion, or 41 cents per share, in the same quarter last year.

Excluding costs of paying employees in stock and one-time items, the company posted a profit of 59 cent per share for the recent quarter.

Revenue increased 2 percent, to $8.37 billion from $8.18 billion.

Analysts, on average, expected a profit of 56 cents per share on $8.48 billion in revenue, according to FactSet.

Software revenue rose 6 percent to $6.08 billion and included a 5 percent increase in new software licenses and cloud software subscriptions to $1.65 billion.

Oracle President Mark Hurd new software license sales were particularly strong in the Americas, where they rose 15 percent when excluding the effects of changes in exchange rates.

Hardware systems revenue fell 7 percent to $1.26 billion.

The company also said Wednesday that its board declared a quarterly cash dividend of 12 cents. This dividend will be paid on Oct. 29 to shareholders as of Oct. 8.

Explore further: Expedia posts 1Q loss; says revenue rose 24 pct

Related Stories

Expedia posts 1Q loss; says revenue rose 24 pct

April 25, 2013

Online travel agency Expedia Inc. is reporting a larger loss in the first quarter as its stock-based compensation, legal reserve and depreciation costs surged compared to a year ago. But its adjusted revenue and income surpassed ...

Comcast profit rises 17 percent in 1Q

May 1, 2013

Comcast Corp., the nation's largest cable company and owner of NBCUniversal, says its net income rose 17 percent in the latest quarter, powered by continued strong results from its cable operations.

Fully-owned NBCUniversal boosts Comcast 2Q results

July 31, 2013

The decision by Comcast Corp., the country's largest cable company, to buy out General Electric in NBCUniversal looks like a smart one, as the media conglomerate posted strong results for the second quarter.

Time Warner 2Q net income jumps 87 pct

August 7, 2013

Time Warner, owner of HBO, CNN, and Warner Bros., says its second-quarter net income jumped 87 percent, boosted by better results at its film and TV businesses.

Hewlett-Packard turns 3Q profit but revenue falls

August 21, 2013

Hewlett-Packard made a profit in the latest quarter, reversing a huge loss a year ago that stemmed from an $8 billion charge. But the technology bellwether's revenue declined amid an ongoing weakness in the PC market.

Recommended for you

Smart home heating and cooling

August 28, 2015

Smart temperature-control devices—such as thermostats that learn and adjust to pre-programmed temperatures—are poised to increase comfort and save energy in homes.

Smallest 3-D camera offers brain surgery innovation

August 28, 2015

To operate on the brain, doctors need to see fine details on a small scale. A tiny camera that could produce 3-D images from inside the brain would help surgeons see more intricacies of the tissue they are handling and lead ...

Team creates functional ultrathin solar cells

August 27, 2015

(Phys.org)—A team of researchers with Johannes Kepler University Linz in Austria has developed an ultrathin solar cell for use in lightweight and flexible applications. In their paper published in the journal Nature Materials, ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.