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

Sep 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: Time Warner 2Q net income jumps 87 pct

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Time Warner 2Q net income jumps 87 pct

Aug 07, 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

Aug 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.

Generic competition cuts Merck's Q1 sales, profit

May 01, 2013

Drugmaker Merck & Co. is reporting lower first-quarter results and cutting its 2013 profit forecast by 15 cents a share. It also is announcing a huge share buyback, up to $15 billion worth of its stock.

Expedia posts 1Q loss; says revenue rose 24 pct

Apr 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 01, 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

Jul 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.

Recommended for you

Report: China to declare Qualcomm a monopoly

13 hours ago

(AP)—Chinese regulators have concluded Qualcomm Inc., one of the biggest makers of chips used in mobile devices, has a monopoly, a government newspaper reported Friday.

User comments : 0