Riding high on new software licenses and an uptick in sales of the Exadata database machine, Oracle reported a big first quarter. The companys new president embattled ex-HP CEO Mark Hurd also hinted that next weeks Oracle OpenWorld conference would be the launching pad for a pair of new high-end systems that combine Sun hardware and Oracle software, according to this report from eCRMguide.
Database giant Oracle (NASDAQ: ORCL) reported a big first quarter today, including a 38 percent rise in earnings to $2.1 billion or $.0.42 per share, easily topping analysts' estimates of $0.37 per share.
Total first-quarter revenue grew 48 percent to $7.5 billion on a GAAP basis, while non-GAAP revenues ballooned 50 percent, reaching $7.6 billion.https://o1.qnsr.com/log/p.gif?;n=203;c=204655439;s=10655;x=7936;f=201806121855330;u=j;z=TIMESTAMP;a=20400368;e=iNew software licenses, an important indicator of future growth, were a chief contributor to that performance, up 25 percent in the quarter and contributing $1.3 billion in revenue. Overall, Oracle said software license updates and product support revenues were up 11 percent to $3.5 billion.
Oracle co-president Safra Catz said the company's software business saw strong growth across all regions. Our hardware business also grew faster than we expected with Sun Solaris servers and Exadata leading the way, Catz said in a statement.< p>Next week at Oracle OpenWorld, we will announce two new high-end systems that combine Sun hardware with Oracle software, [new co-president Mark] Hurd said in a release. We will invest over $4 billion in research and development this year, so our already robust product portfolio is only going to get stronger.
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