The decline was attributed to declining value of foreign currencies against the US dollar
Oracle has reported a 1% decline in net income to $1.32 billion for the third quarter 2009, compared to $1.34 billion in the year-ago quarter, on revenue up 2% at $5.45 billion. The decline was attributed to declining value of foreign currencies against the US dollar.
Operating income during the quarter grew 4% to $1.94 billion, while diluted EPS remained flat at $0.26. The company said software revenue grew 5% to $4.4 billion, with new software license revenue down 6% to $1.5 billion and software license updates and product support revenue up 11% to $2.91 billion. Services revenue for the quarter fell 8% to $1.02 billion from $1.1 billion in the year-ago quarter.
For the nine-month period, the company reported a 6% increase in net income to $3.7 billion compared to net income of $3.48 billion a year ago, on revenue up 8% at $16.39 billion.
Charles Phillips, president at Oracle, said: If you look past the effect of exchange rates, our new software license revenues for this quarter were higher than our new software license revenues for Q3 of last year. Achieving constant currency growth in new software license sales in this very challenging economy shows that we continue to beat our competitors in both technology and applications.
Last month, the company agreed to acquire application configuration management tool provider mValent for an undisclosed sum.