Oracle fiscal 2Q net income falls slightly (Update)

Dec 18, 2013

Oracle's fiscal second-quarter net income edged down slightly, hurt by flat revenue from new software licenses and cloud software subscriptions, but still managed to beat Wall Street predictions.

The business software maker earned $2.55 billion, or 56 cents per share, compared with $2.58 billion, or 53 cents per share, in the same quarter a year ago. Excluding charges, the company posted an adjusted profit of 69 cents per share for the recent quarter.

Revenue rose 2 percent to $9.28 billion from $9.09 billion.

Analysts, on average, expected a profit of 67 cents per share on $9.18 billion in revenue, according to FactSet.

Revenue from new software licenses and cloud software subscriptions was flat at $2.38 billion, but rose 1 percent excluding the effects of currency exchange rates.

Oracle president and chief financial officer Safra Catz noted that the company's new software and subscriptions revenue faced tough comparisons with results from a year ago. Excluding the effects of currency fluctuations, revenue from new software licenses and cloud software subscriptions rose 18 percent in the year-ago quarter.

In the recent quarter, revenue from software license updates and product support increased 6 percent to $4.52 billion. Revenue from hardware systems was flat at $1.32 billion, as higher revenue from services offset a drop in revenue from products.

Oracle's board also declared a quarterly cash dividend of 12 cents. The dividend will be paid on Jan. 28 to shareholders of record as of Jan. 7.

Shares of Redwood Shores, California-based Oracle Corp. fell 75 cents, or 2 percent, to $33.85 in aftermarket trading after the results were released.

Explore further: Texas Instruments 3Q profit drops, outlook weak

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

Related Stories

Texas Instruments 3Q profit drops, outlook weak

Oct 21, 2013

Chipmaker Texas Instruments Inc. said Monday that its net income fell 20 percent in the third quarter. Its outlook for the current period was worse than analysts expected, and shares slipped.

HP posts $1.4B fiscal 4Q profit

Nov 26, 2013

Hewlett-Packard posted net income of $1.4 billion for its fiscal fourth-quarter, as cost cuts stemming from its ongoing restructuring more than offset the effects of sluggish computer demand.

Cisco's 1Q revenue falls below estimates

Nov 13, 2013

Cisco's fiscal first-quarter revenue grew slower than expected and net income declined, which sent the technology company's stock lower in extended trading.

Oracle's profit tops Street, but worries surface

Jun 23, 2011

(AP) -- Oracle Corp.'s latest quarterly results Thursday underscore the critical role its software business plays despite its push to become a more well-rounded technology vendor by selling computer servers.

Recommended for you

The New York Times to cut 100 newsroom jobs

2 hours ago

The New York Times Co. says it is cutting about 100 newsroom jobs through buyouts and layoffs in an effort to trim costs and focus more on its digital efforts.

What's PayPal's first solo move?

21 hours ago

PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challeng ...

AOL to feed more video, news to Microsoft's MSN

Sep 30, 2014

AOL will provide Microsoft's MSN with more video and additional news stories from popular sites such as The Huffington Post and TechCrunch in an expansion of a deal aimed at selling more digital advertising.

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

robertbradf
not rated yet Dec 19, 2013
Oracle last quarter did not meet the expectations of the analyst. http://bit.ly/OracleAnalysts