logo
  Join        Login             Stock Quote

Oracle (ORCL) 2Q Earnings Up 18 Pct, Beat Estimates; Shares Rise

 December 18, 2012 04:18 PM
 


(By Balaseshan) Oracle Corp. (NASDAQ: ORCL), an enterprise software company, reported a 18% growth in quarterly earnings on double-digit revenue growth in new software license and cloud subscriptions. Results exceeded Street's expectations, sending its shares up 1.64% in aftermarket.

Profit for the second quarter grew 18% to $2.6 billion, while earnings per share (EPS) soared 24% to $0.53. Adjusted EPS rose to $0.64 from $0.54.

Without the impact of the US dollar strengthening compared to foreign currencies, Oracle's EPS climbed 26% to $0.54, and adjusted EPS grew 19% to $0.65.

Revenue rose 3% to $9.09 billion, while adjusted revenue increased to $9.11 billion from $8.81. Without the impact of the US dollar strengthening compared to foreign currencies, both GAAP and non-GAAP total revenues would have been up 5%.

[Related -Fusion-IO, Inc. (FIO): Can Fusion-IO Q2 Results Cheer Street?]

Analysts, on average, polled by Thomson Reuters had expected a profit of $0.61 per share on revenue of $9.03 billion for the second quarter.

Oracle's earnings have gone past Street view twice in the past four quarters, and there has been no change to the consensus view during the past 90 days.

New software licenses and cloud software subscriptions revenues jumped 17% to $2.39 billion, while software license updates and product support revenues rose 7% to $4.26 billion. Hardware systems products revenues plunged 23% to $734 million, while hardware systems support revenue declined 6% to $587 million.

[Related -Teradata Corporation (NYSE:TDC): Lower Cost Platforms Could Curtail Growth Rates]

"Q2 performance was strong and broad based as all geographies reported double-digit revenue growth in new software license and cloud subscriptions. Applications, middleware and database all had double-digit growth in new software license and cloud subscriptions, with applications leading the pack with growth of over 30%," said Oracle President, Mark Hurd.

ORCL closed Tuesday's regular session up 1.67% at $32.86. The stock has been trading between $24.91 and $33.29 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageBuffett's Market Indicator Flashes Red, Prepare To Sell

With each passing month, it's becoming evident that the current bull market has slowed from a gallop to a read on...

article imagePBoC joins other major central banks with unconventional monetary policy action

Softer than expected economic growth in China (see discussion) has finally spurred the PBoC into action. read on...

article imageA Buyback Boost?

Are stock buybacks the only thing keeping this bull market read on...

article imageGold Slides On Perfect Storm For Dollar

For all the anticipation surrounding the delivery of the Fed’s statement in the run-up to the September read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.