Oracle has announced its earnings for Q1FY13, with total revenues down 2% to around $8.2 billion. While software revenues grew marginally, the hardware and services revenue was down significantly, weighing down on overall revenue growth.
Its operating income increased 7% to more than $2.8 billion, while its net income jumped up to $2 billion.
With its new acquisitions and product roadmap, Oracle seems to be focused on dominating the cloud-based software space.
Oracle CEO, Larry Ellison, said:
“A little more than a week from now we will announce lots of enhancements to the Oracle Cloud. There are more CRM, ERP and HCM applications as a service, and more Oracle database, Java and social network platform services. Our new infrastructure as a service is available in the Oracle Cloud and as a private cloud in our customers’ data center, with the unique ability to move applications and services back and forth between the two.”
Oracle’s cash, cash equivalents, and marketable securities have increased to almost $31.5 billion. Its operating cash flow this quarter was up to $14 billion.
Oracle President, Mark Hurd, said:
“Exadata, Exalogic, Exalytics and our other engineered systems grew more than 100% in the quarter. For the full year, we expect to double engineered systems sales to well over $1 billion. Oracle’s new cloud business is also approaching a $1 billion annual run rate. These two businesses will drive Oracle’s growth for years to come.”
For now, it seems that cloud-based enterprise software and engineered systems will continue to drive revenue growth for Oracle in the coming years.
via Oracle – SEC