Oracle Boosts Profit, Beats Expectations for Q2
Oracle posted Q2 2013 results today that showed notable earnings growth, the company announced in a press release. Non-GAAP revenues totaled $9.1 billion, while net profit came in just over $3.1 billion ($0.64 per share). These represented year-over-year increases of 3% and 12%, respectively. Analysts had expected revenue and EPS figures to come in around $9.0 billion and $0.61.
The company attributed the improvements to growth in sales of new software licenses and subscriptions to cloud services, both of which advanced 18% over the same period of 2011. Oracle also singled out the engineered systems segment of its hardware business as being particularly successful during the quarter.
In a conference call discussing the results, the company said it expects Q3 revenue will rise 1%-5% on a currency-adjusted basis, and EPS will come in at $0.64-$0.68.
The article Oracle Boosts Profit, Beats Expectations for Q2 originally appeared on Fool.com.Eric Volkman has no positions in Oracle. The Motley Fool owns shares of Oracle. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.