Oracle publishes promising first quarter results

Oracle's total GAAP revenues were up 48% to $7.5 billion for the first quarter of its 2011 fiscal year; the non-GAAP amount came in at $7.6 billion. According to the company's press release, new software license revenues increased by 25% to $1.3 billion, and product support revenues and software license updates rose 11% to $3.5 billion.

The company reported an operating income of $1.9 billion and a net income of $1.4 billion – non-GAAP income came in at $2.9 billion and $2.1 billion respectively. Oracle says that its new license sales were up by 25% in the first quarter and that Sun Solaris servers have helped its hardware business to grow much faster than it had expected. Discussing the earnings announcement, Oracle President and former HP CEO Mark Hurd also stated that, at next week's OpenWorld 2010 conference, the company will launch new high-end systems combining Sun Microsystems hardware with Oracle software.

Oracle's OpenWorld conference will coincide with the JavaOne conference, which previously occured in June, and will take place at the Moscone Center in San Francisco from the 19th to the 23rd of September. Oracle acquired Sun Microsystems in April of last year.

See also:

• Oracle Reports Q1 GAAP EPS Up 20% to 27 Cents; Non-GAAP EPS Up 38% to 42 Cents, press release from Oracle.
• Oracle sticks to Sun's open source strategy for Java, a report from The H.
• JavaOne: Larry Ellison to chart Java future, a report from The H.

(crve)