Oracle revenue up, but charges drag down profit

New software license sales grow, in an indication of strength

Fueled by growth in new software licenses, Oracle revenue for its fiscal third quarter, ended Feb. 28, increased 17 percent from the same period last year, hitting US$6.4 billion, though earnings declined due in part to restructuring charges incurred by the company's purchase of Sun Microsystems.

Oracle reported third-quarter earnings of $1.2 billion, a drop of 10 percent compared to the same period last year.

Excluding special charges, earnings per share grew 9 percent to $1.9 billion or $0.38 per share, with $6.5 billion in revenue. Analysts polled by Thomson Reuters had on average predicted earnings per share of $0.38 and $6.35 billion in revenue.

New software license revenues, which are considered a key indicator of growth and market temperament, grew 13 percent to $1.7 billion.

Oracle's work on integrating Sun Microsystems is going well, and Sun products will make "a significant contribution" to Oracle's fourth-quarter earnings, co-President Safra Catz said in a statement.

Oracle's Exadata data warehousing machine is "the fastest-growing product" in company history, with nearly $400 million in the sales pipeline, co-President Charles Phillips said in a separate statement.

(More to follow.)

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