Oracle meets Q2 earnings
Oracle fiscal second-quarter earnings posted yesterday met expectations but were down from a year ago. The software vendor reported net income of $549.5 million, or 10 cents per share, compared with $622.8 million, or 11 cents per share, for the same quarter the previous year, ending Nov. 30.
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Total revenue declined to $2.4 billion from $2.7 billion, falling $1 million short of Wall Street’s estimate of $2.5 billion. Second-quarter operating margins also were down 1% from last year to 35%. Software-license revenues declined 27%, database sales 21%, and new-applications revenue fell 42% from last year. Yet software license renewals were up 8% and product support services 12%.
Though Oracle shares are down 48% year to date, the software vendor expects profit growth in its fourth quarter, ending May.
--Amalia D. Parthenios, staff writer
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© 2012 Penton Media Inc.
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