Oracle Q1 Earnings Beat Analysts' Expectations

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Oracle reported first-quarter 2009 earnings of US$0.21 per share, a 28 percent rise year-over-year, the company said Thursday. Overall revenue for the quarter was $5.3 billion, a rise of 18 percent, while net income was $1.1 billion, up 28 percent over last year.

Software revenues rose 20 percent to $4.2 billion, while new software license sales were $1.2 billion, an increase of 14 percent.

Non-GAAP (generally accepted accounting principles) earnings were $0.29 per share on revenue of $5.42 billion. Analysts polled by Thomson Financial had predicted $0.27 per share and $5.42 billion in revenue.

Oracle's results had been highly anticipated by Wall Street during a week rocked by turmoil in the financial markets. The vendor's shares had already dropped about 20 percent since early to mid-August, to $18.73 at the close of trading Thursday, but rose to about $19 immediately after hours.

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