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.

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