Oracle bets on software as Q2 profit rises 18 per cent to $2.6 billion
19 Dec 2012
Global technology major Oracle Corp today reported an 18 per cent year-on-year increase in its net profit for the second quarter, at $2.6 billion, against $2.2 billion a year ago. Revenue for the quarter rose 3 per cent to $9.1 billion despite slowing hardware sales.
Earnings per share stood at 53 cents in fiscal second quarter against 43 cents per share a year ago.
Oracle said profit was lower because of charges related to past acquisitions and certain other costs, without which EPS would have been 64 cents per share.
Revenue increased 3 per cent from last year to $9.1 billion - about $900 million more than analysts had projected.
Oracle said software sales growth will continue to remain strong into the new year even if the proposed spending cuts by the US government could affect consumer spending.
Oracle's performance for the quarter also improved from the previous quarter, when the business-software maker reported a marginal decline in revenue.
Rising software sales by some of the world's biggest technology suppliers suggest corporates aren't much worried over the US economy falling off the fiscal cliff.
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