Oracle posts strong Q1 earnings

Oracle posts strong Q1 earnings

In its first-quarter financial report on Tuesday, Oracle matched Wall Street expectations and posted strong revenues and earnings.

For the quarter ending August 31, Oracle reported revenue of $US2 billion, up 13 per cent from the $US1.7 billion reported in the same quarter last year. Net income for the recent quarter was $US237 million, or 16 cents per share, up 21 per cent from $US195 million, or 13 cents per share, in the same quarter last year.

A poll of 30 analysts by First Call produced a mean estimate that Oracle would report per-share earnings of 16 cents for the quarter, with the lowest prediction at 14 cents and highest at 19 cents.

"Our pipelines are in a very strong position and we feel we will have strong and continued growth for the rest of the year," Larry Ellison, Oracle's chief executive officer, said in a telephone conference call. Ellison said he expected to see strong growth in software sales through the company's new Internet sales channel.

Software licence and other revenue grew 9 per cent year-over-year, with database software sales increasing 8 per cent to $US443 million and applications software sales increasing 11 per cent to $US109 million over the same quarter last year.

Geographically, Oracle revenue in the Americas was up 12 per cent from last year, up 9 per cent in Europe, Middle East and Africa and up 34 per cent in Asia Pacific.

Oracle shares on the Nasdaq stock exchange closed at $45.43, down 31 cents.

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