Oracle posts $1.9bn profit for Q2 FY2011

Profit up 28% from last year, with 21% growth in new software licence revenue

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Oracle posts $1.9bn profit for Q2 FY2011 Oracle is showing momentum in new software licensing, says Catz. (Getty Images)
By  Mark Sutton Published  December 19, 2010

Oracle has reported income of $1.9 billion for the quarter ending 30th November, up 28% from last year.

The company saw new software license revenues up 21% to $2.0 billion in Q2 FY2011, while software license updates and product support revenues were up 12% to $3.6 billion.

Oracle also added $1.1 billion in revenues for hardware systems products, from its Sun Microsystems business.

Total revenues for the quarter rose 47% to $8.6 billion.

"Strong revenue performance plus disciplined business management enabled a 33% increase in non-GAAP earnings per share to $0.51," said Oracle President, Safra Catz. "Our new license growth of 21% demonstrates the strength of the company-specific momentum we are seeing. And our Sun business continues to improve with hardware gross margins increasing to 53%."

"Since joining Oracle I've met with and visited many customers that have expressed a high level of enthusiasm around our strategy of engineering hardware and software that works together," said Oracle President, Mark Hurd. "That enthusiasm translates into an Exadata pipeline that has now grown to nearly $2 billion. That number is a good leading indicator that customers are planning to increase their investment in Oracle technology."

"Sun's new SPARC Supercluster computer shattered the world record for database transaction processing performance by running three times faster than IBM's fastest computer, and a stunning seven and a half times faster than HP's best ever database performance," said Oracle CEO, Larry Ellison. "Our new generation of Exadata, Exalogic and SPARC Supercluster computers deliver much better performance and much lower cost than the fastest machines from IBM and HP."

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