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Oracle quarterlies surpass expectations

by Scott Bicheno on 19 March 2009, 10:36

Tags: Oracle (NASDAQ:ORCL)

Quick Link: HEXUS.net/qaril

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Bucking the trend

Oracle, the database software giant, has announced revenues of $5.5 billion for the quarter ending 28 February. This is up two percent on a year ago and slightly above expectations.

Net income was down a percent to $1.3 billion, however, and Oracle is putting the blame for this on currency fluctuations. Software revenues were up five percent, but new license revenues were down six percent.

"We are committed to delivering value to our stockholders through technology innovation, strategic acquisitions, stock repurchases, and now through a dividend," said Safra Catz, Oracle's president. "We generated $8.0 billion in free cash flow over the last twelve months and we are running our business at record operating margins."

"If you look past the effect of exchange rates, our new software license revenues for this quarter were higher than our new software license revenues for Q3 of last year," said another Oracle president, Charles Phillips. "Achieving constant currency growth in new software license sales in this very challenging economy shows that we continue to beat our competitors in both technology and applications."

"But for the strengthening of the US dollar leading to unfavourable currency exchange rates, our non-GAAP earnings per share would have increased 29% in Q3," said Oracle CEO, Larry Ellison. "This is a tremendous achievement in the face of the serious slowdown in the world economy."

 



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