Shares of Oracle Corporation (NASDAQ: ORCL), a provider of enterprise software and computer hardware products and services, are up sharply in trading today after the company reported better-than-expected second-quarter results.
For the second quarter of fiscal 2013, ORCL reported total revenue of $9.1 billion, up 3% over the same period in the previous year. The company’s new software licenses and cloud software subscription revenue was $2.4 billion, representing an increase of 17% over the same period in the previous year. Software license updates and product support revenue rose 7% to $4.3 billion.
ORCL reported GAAP earnings per share of $0.53 for the quarter, up 24% over the same period in the previous year. The company’s non-GAAP earnings for the quarter were $0.64, up 18% over the same period in the previous year.
Oracle’s second-quarter revenue and adjusted earnings beat analysts’ estimates.
Commenting on the quarterly results, Safra Catz, President of CFO of Oracle, said that new software license sales and cloud subscription grew 18% in constant currency. Catz said that strong organic growth in the company’s software business coupled with a focus on highly profitable engineered systems segment of its hardware business enabled a second-quarter non-GAAP operating margin of 47%.
Oracle President Mark Hurd said that second-quarter performance was strong and broad-based as all geographies reported double digit revenue growth in new software license and cloud subscriptions.
For the fiscal third quarter, ORCL expects adjusted earnings to be between $0.64 per share and $0.68 per share.
At last check, ORCL shares were trading 3.30% higher at $33.97 on volume of 12.03 million. The stock hit a 52-week high of $34.10 today, and has gained more than 6% in the last three trading sessions.
Year-to-date, ORCL shares have gained more than 32%, outperforming the S&P 500.
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