Menu
Software sales drop, but Oracle beats expectations

Software sales drop, but Oracle beats expectations

The company was pleased with the results, especially in Europe, where its applications business grew by 5 percent

Oracle reported a 13 percent dip in new software sales Tuesday, but posted quarterly financial results that were ahead of analyst expectations.

Oracle remained profitable, posting net income of $US1.9 billion, or $US0.38 per share, on $US6.9 billion in revenue for the quarter, ended May 31. Excluding one-time charges, Oracle reported $US0.46 per share, beating expectations of analysts, who had been looking for earnings of $US0.44 per share on about $US6.5 billion in revenue, according to a survey done by Thomson Reuters.

While overall revenue was down five percent from the same quarter last year, Oracle said that it was pleased with the results, especially in Europe, where the company's applications business grew by 5 percent.

"We executed substantially better than we expected," said Oracle Chief Financial Officer Jeff Epstein in a statement.

Oracle said that its results would have been stronger if not for weakening international currencies.

Overall software revenue, including new licenses, updates and product support, was down three percent for the quarter, totalling $US5.8 billion, Oracle said.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Oraclerevenue

Featured

Slideshows

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Reseller News has honoured the leading female front runners of the New Zealand ICT industry at the 2019 Women in ICT Awards (WIICTA) in Auckland. The awards recognised standout individuals across six categories, spanning Entrepreneur, Rising Star, Shining Star, Community, Technical and Achievement. Photos by Gino Demeer.

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA
Reseller News kicks off awards season in 2019 with Judges' Lunch

Reseller News kicks off awards season in 2019 with Judges' Lunch

The 2019 Reseller News Innovation Awards has kicked off with the Judges Lunch in Auckland with 70 judges in the voting panel. The awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors. Photos by Christine Wong.

Reseller News kicks off awards season in 2019 with Judges' Lunch
Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomed 2018 inductees - Chris Simpson, Kendra Ross and Phill Patton - to the third running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing landscape of the technology industry in New Zealand, while outlining ways to attract a new breed of players to the ecosystem. Photos by Gino Demeer.

Reseller News welcomes industry figures for 2019 Hall of Fame lunch
Show Comments