Oracle reports GAAP revenues up 26%

Oracle Corporation recently announced that fiscal 2007 Q2 GAAP earnings per share were up 20% to $0.18, compared to the same quarter last year. Second quarter total GAAP revenues were up 26% to $4.2 billion, while quarterly GAAP net income was up 21% to $967 million.

Total GAAP software revenues were up 23% to $3.2 billion with database and middleware new license revenues up 9% and applications new license revenues up 28%. Services revenues were up 41% to $949 million, compared to the same quarter last year.

Second quarter non-GAAP earnings per share were up 18% to $0.22, and non-GAAP net income was up 20% to $1.17 billion compared to the same quarter last year.

"We delivered strong top line revenue growth along with solid earnings for the second quarter," Oracle president and CFO Safra Catz said.

"We are now half way through our five-year plan targeting EPS growth at 20% per year. For the first two-and-a-half years we are comfortably ahead of that target."

"We continue to gain market share in applications from SAP, in middleware from BEA, and in database from IBM," Oracle president Charles Phillips said.

"In Q2 our middleware new licence growth was exceptionally strong. We expect to pass BEA in total middleware new licence sales later this year."

"Our applications acquisition strategy has strengthened our competitiveness in several industries, including retail, banking, telecommunications and utilities," Oracle CEO Larry Ellison said.

"Now, the very first industry vertical we entered via acquisition, our retail software business, is beginning to see the benefits of operational integration with Oracle.

"In Q2, our retail new software licence sales more than tripled. During the second half of the year the retail business unit expects to do even better. Eight of the top ten retailers in North America use Oracle retail software, only one uses SAP."