Oracle slaps SAP in the chops
And slaps $1.3bn on Q2 bottom line
Database giant Oracle said yesterday that it saw earnings jump by 35 per cent in its second quarter buoyed by strong sales of software licenses.
It reported net income of $1.3bn, or 25 cents per share, for the three months ended 30 November compared to $967m, or 18 cents per share, for the same period last year.
Revenue at the Redwood Shores-based firm was up 28 per cent to $5.31bn, from $4.16bn in Q2 2006.
Global sales of Oracle software licences shot up by 38 per cent to $1.67bn for the quarter.
Boosted by that figure, the firm forecast that 2008 sales will rise some 15 per cent to 25 per cent in Q3.
Oracle president Charles Phillips also gave the finger to one of the company's rivals. He said in a statement: "We like our growth strategy of expanding beyond ERP into high-end industry specific vertical software in contrast to SAP's strategy of moving down market to sell ERP systems to small companies."
The acquisition-happy firm has, over the past few years, swallowed up a number of small rivals splashing out an eye-popping $25bn. Oracle reckoned that strategy had paid off by allowing the firm to punt more software products to more customers in a variety of industries.
Oracle shares closed in regular trading on Nasdaq at $20.76, down 49 cents but then rallied in extended trading by $1.36, or 6.6 per cent.
The full Oracle Q2 results can be viewed here (pdf). ®