Oracle (ORCL) Posts Strong Q2 Results; Revs Up 47%

December 16, 2010 4:49 PM EST
Oracle Corp. (NADSAQ: ORCL) posted better-than-expected second-quarter results on Thursday, pushing shares higher in aftermarket movement.

The company reported second-quarter earnings of 51 cents per share, 5 cents better than the analyst estimate of 46 cents per share.

Revenue for the company rose 47 percent to $8.6 billion in the period, beating the market consensus of 48.34 billion. Software license revenue rose 21 percent to $2.0 billion.

"Since joining Oracle I've met with and visited many customers that have expressed a high level of enthusiasm around our strategy of engineering hardware and software that works together," said Oracle President, Mark Hurd. "That enthusiasm translates into an Exadata pipeline that has now grown to nearly $2 billion. That number is a good leading indicator that customers are planning to increase their investment in Oracle technology."

Shares of Oracle are up 3.90 percent to $31.45 in aftermarket movement on Thursday.

UPDATE: sees Q3 adj-EPS of 48-50c, which compares to the Street estimate of 47c. Sees non-GAAP sales growth of 31-35%.

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