Oracle has reported a 28% increase in net income to $1.07 billion for the first quarter 2009, compared to $840m in the year-ago quarter, on revenue up 18% at $5.33 billion. It said growth was driven by strong sales and maintenance contracts for its database and middleware products.
Operating income during the quarter grew 25% to $1.52 billion, while EPS grew 28% to $0.21.
The company said software revenue grew 20% to $4.2 billion, with new software license revenue up 14% at $1.23 billion, and software license updates and product support revenue up 23% at $2.93 billion. Services revenue grew 9% to $1.15 billion. The company’s recently acquired middleware developer BEA Systems contributed $84m during the quarter.
Geographically, Americas revenue rose 13% to $2.68 billion, Europe, Middle East and Africa revenue rose 20% to $1.83 billion, and Asia Pacific revenue increased 30% to $814m.
Safra Catz, president and chief executive at Oracle, said: Our non-GAAP EPS grew 32% in Q1, and this comes after the 27% growth in Q1 of last year. We also delivered a Q1 non-GAAP operating margin of 40%, our highest ever in Q1, up 350 basis points from the quarter a year ago. We continue to deliver consistent earnings growth well ahead of plan.
Looking ahead, the company expects second-quarter revenue growth in the range of 12% to 15% in constant currency.