Oracle Posts Big Gains for Quarter
New software licensing revenue growth -- the highest in ten years for the company -- helped boost Oracle Corp.'s first quarter financials.
New software licensing revenue grew 35 percent to US$1.1 billion, the strongest growth of any quarter in the past decade, the company reported on Thursday.
Revenue for the period ending August 31 was up 26 percent to US$4.5 billion and net income grew by 25 percent to $840 million compared to the same quarter last year, based on generally accepted accounting principles (GAAP).
Earnings per share grew 28 percent to $0.16.
Applications' new license revenues helped drive growth, increasing by 65 percent over the corresponding period last year. Database and middleware new license revenue was up 23 percent, the highest growth rate in seven years for Oracle, the company reported.