Oracle posts strong first quarter

Summary:New co-president Mark Hurd says Oracle OpenWorld next week will bring two high-end systems that combine Sun hardware with Oracle software.

Oracle handily topped expectations for both first-quarter earnings and revenue as the company said its hardware business "grew faster than expected".

The company reported first-quarter earnings of US$1.4 billion, or 27 cents a share, on revenue of US$7.5 billion, up 48 percent from a year ago. Non-GAAP earnings were 42 cents a share. Wall Street was looking for earnings of 37 cents a share on revenue of US$7.3 billion.

According to Oracle, both the software and hardware businesses performed better than expected. New co-president Mark Hurd previewed Oracle OpenWorld--"Next week at Oracle OpenWorld we will announce two new high-end systems that combine Sun hardware with Oracle software"--and also touted Oracle's R&D spending for the year. As CEO at Hewlett-Packard, Hurd was knocked for scrimping on R&D.

Read more of "Oracle posts strong first quarter: Hurd touts new high-end systems".

Topics: Hardware, Apps, CXO, IT Employment, Servers, Software

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

zdnet_core.socialButton.googleLabel Contact Disclosure

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.