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Oracle reports fiscal 2010 Q2 EPS up 15 percent |
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As per to generally accepted accounting principles (GAAP) Oracle Corporation reported fiscal 2010 Q2 earnings per share of $0.29, up 15% compared to last year's numbers. Total revenues were up 4% to $5.9 billion, while quarterly net income was up 12% to $1.5 billion. Oracle said new software license revenues were up 2% to $1.7 billion, while software license updates and product support revenues were up 14% to $3.2 billion. Operating income was up 10% to $2.2 billion and operating margin was up 200 basis points to 37%. Operating cash flow on a trailing twelve-month basis was $8.7 billion, up 7%. Oracle CFO Jeff Epstein said, "We delivered results which were substantially better than we expected on both the top and bottom line, growing non-GAAP operating margins by 280 basis points to 49%, the highest Q2 non-GAAP operating margin in our history. Our solid top line growth, coupled with disciplined expense management, was key in generating $8.4 billion of free cash flow over the last twelve months." Oracle President Safra Catz used the opportunity to thank customers for their “overwhelming support” during meetings with the European Commission. He expects the Commission to “unconditionally clear the acquisition of Sun in January.” Additionally, Oracle’s Board of Directors declared a cash dividend of $0.05 per share of outstanding common stock that will be paid to stockholders of record as of the close of business on January 19, 2010, with a payment date of February 9, 2010. Oracle rose 4.02% after market following the earnings announcement with the market reacting positively to its earnings and growing market share. |
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