Oracle second quarter profit down

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Oracle

REUTERS

Oracle signage is seen outside Mocsone Center during Oracle OpenWorld 2012 in San Francisco, California.

San Francisco - Oracle reported sales of 9.27 billion dollars in its second fiscal quarter, up 2 per cent from the same period last year, but said Wednesday that profit was off about 1 per cent from a year ago.

The company earned 2.56 billion dollars in the three-month period that ended November 30.

The results beat Wall Street's expectations despite declines in both new software license sales and hardware sales, news reports said.

The company's new software license and cloud subscription sales fell 1 per cent year-on-year to 2.4 billion dollars.

Hardware revenue of 714 million dollars was down 3 per cent, the company said.

“We're very pleased with our results,” Oracle chief financial officer Safra Catz said.

“Software revenue grew 5 per cent, helping drive our tremendous cash flow, and for the first time ever we generated more than 15 billion dollars in operating cash flow over four quarters.” - Sapa-dpa


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