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September 20, 2010

Oracle Q1 FY11 revenue jumps to $7.5bn

Posts net income of $1.3bn

By CBR Staff Writer

Oracle has reported total revenues of $7.5bn for the first quarter of fiscal 2011, an increase of 48% compared to $5.05bn of the same quarter prior year.

The company’s operating income was $1.9bn for the first quarter as compared to $1.7bn for the same period last year.

Oracle posted first quarter income before income taxes of $1.8bn as compared to $1.56bn for the same quarter in 2009.

For the quarter ended 31 August 2010, the company has posted net income of $1.35bn, or $0.27 per share, as compared to $1.1bn, or $0.22 per share, for the same period last year.

Oracle CFO Jeff Epstein said that the strong revenue performance plus disciplined business management enabled a 38% increase in non-GAAP earnings per share to $0.42.

The company said that it will invest around $4bn in research and development this year, to support the growth of its product portfolio.

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