Oracle shrugs off downturn by increasing software revenues

Cliff Saran

Oracle's revenue for 2009 has grown 4% to $23.3bn, showing that businesses are still buying enterprise software licenses and renewing maintenance contracts despite the recession.

"We grew faster and took market share from SAP in every region around the world," said Oracle president Charles Phillips. "In Europe, our applications business grew 5% in constant currency versus negative 27% growth for SAP in their most recent quarter. Historically, Europe has been an SAP stronghold, but these results prove that we can compete and beat them everywhere."

The company reported fiscal 2009 Q4 GAAP earnings per share were $0.38, down 4% compared to last year. GAAP software license updates and product support revenues were up 8% to $3.1bn, operating income was down 3% to $2.9bn, and GAAP operating margin was up 100 basis points to 42%.

New software license revenues for the year were down 5% to $7.1bn, while software license updates and product support revenues were up 14% to $12bn.

"Adjusted for the substantial movement in the US dollar exchange rate this fiscal year, which is beyond our control, we grew non-GAAP earnings per share by 19% for the year," said Oracle president Safra Catz. "That's an amazing achievement given what's been happening in the global economy over the past 12 months."

In April, Oracle purchased Sun for $7.4bn

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