Oracle Corporation (NASDAQ: ORCL) today announced fiscal 2008 Q2 GAAP earnings per share were up 36% to $0.25, compared to the same quarter last year. Second quarter total GAAP revenues were up 28% to $5.3 billion, while quarterly GAAP net income was up 35% to $1.3 billion. Total GAAP software revenues were up 29% to $4.2 billion with GAAP new software license revenues up 38% to $1.7 billion. Database and middleware new license revenues were up 28% and applications new license revenues were up 63%. Services revenues were up 22% to $1.2 billion, compared to the same quarter last year. Second quarter non-GAAP earnings per share were up 40% to $0.31, and non-GAAP net income was up 38% to $1.6 billion, compared to the same quarter last year.
"In Q1 we reported new software license revenues up 35%, the strongest growth of any quarter in ten years," said Oracle President and CFO, Safra Catz. "In Q2 we did even better with new software license sales up 38%. GAAP EPS were up 36%; non-GAAP EPS were up 40%. We exceeded our guidance and our best case forecast with strong revenue growth across all product lines and geographies."
"In Q2 Oracle's applications new license sales grew 63% compared to SAP's new license sales growth rate of 15% in their most recently completed quarter," said Oracle President, Charles Phillips. "We like our growth strategy of expanding beyond ERP into high-end industry specific vertical software in contrast to SAP's strategy of moving down market to sell ERP systems to small companies."
"Our database and middleware new license sales grew 28% in Q2," said CEO, Larry Ellison. "We continue to take market share from IBM in both product categories."
