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March 21, 2013

Weak software and cloud sales hit Oracle’s Q3 results

Net income increased to $2.5bn for the quarter.

By CBR Staff Writer

Oracle has reported a 1% decline in its revenues to $8.95bn for the third quarter of 2013, compared to $9.03bn it reported during corresponding quarter in 2012.

The company said if the US dollar had not strengthened compared to foreign currencies its revenues would have seen a 1% rise.

Net income of the firm increased to $2.5bn for the quarter, compared to $2.49bn it reported for the same period in the corresponding year.

The company’s hardware systems products revenue declined to $671m for the quarter along with software licenses and cloud subscriptions revenues which fell 2% to $2.3bn.

The hardware division has also seen revenue decline in every quarter since Oracle acquired Sun Microsystems for $7.4bn in 2010.

Revenue in the Americas region increased to $4.32bn for the quarter while revenue in the EMEA region declined to $2.38bn.

Oracle president, Mark Hurd said the Oracle Cloud is the comprehensive cloud platform available with services at the infrastructure (IaaS), platform (PaaS) and application (SaaS) level.

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"In Q3, our SaaS revenue alone grew well over 100% as lots of new customers adopted our Sales, Service, Marketing and Human Capital Management applications in the Cloud," Hurd said.

Oracle CEO, Larry Ellison said the company will start deliveries of servers based on its new SPARC T5 microprocessor this month.

"The new T5 servers can have up to eight microprocessors while our new M5 system can be configured with up to thirty-two microprocessors," Ellison said.

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