
New software licenses and cloud software subscription services revenues rose 4% to $1.7 billion year-over-year, while software license updates and product support revenues rose 7% to $4.4 billion. Hardware sales and support revenues fell 7% to $1.26 billion. Services revenues fell 8%, to $1.03 billion.
On a non-GAAP basis, operating income was up 4% to $3.7 billion and flat at $2.9 billion on a GAAP basis. Without the impact of currency exchanges, adjusted EPS would have been 14% higher and total revenues would have been 4% higher.
Oracle did not provide any guidance in its earnings announcement, but is likely to do so on its conference call later today. The consensus second-quarter estimates from Thomson Reuters call for adjusted EPS of $0.69 on revenues of $9.41 billion.
As a percentage of total revenues hardware sales fell 14%. This continues the lackluster performance in the company’s hardware business which Oracle acquired with the purchase of Sun Microsystems. Hardware sales totaled just $669 million. One has to believe that if Oracle could locate a buyer for its hardware products the company would sell in a heartbeat.
Shares are trading up about 1% in the after-hours market on Wednesday at $34.11 in a 52-week range of $29.52 to $36.43.
It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.