September 18, 2008, 5:23 pm
Oracle Sees FY Q2 Revs Up 9%-12% After 3 Pt Currency Hit; New License Revs Up 2%-12%; Non-GAAP 35-36C
Posted by Eric Savitz
In a post-earnings conference call with analysts, Oracle (ORCL) President Safra Catz said the company expects revenue for the fiscal second quarter ending August to be up 9%-12%, including a 3-point hit from currency. On a constant currency basis, growth is expected to be 12%-15%.
The company sees new license revenue up 2%-12%, or 5%-15% on a current currency basis.
Non-GAAP profits are expected to be 35-36 cents a share.
Catz notes that currency added 7 points to revenue in the year ago quarter, but will be a three point drag on revenue this year if currency exchange rates stay where they are.
She also said the company’s exposure to the banking sector is in the “low single digits,” and that the trouble in the financial sector is not expected to have a material impact on the quarter’s results. She also said the company’s financial exposure to institutions in trouble “is de minimis and immaterial.”
The Street has been looking for Q2 revenue of $6.23 billion, up 16.1%, with profits of 35 cents a share.
After hours, ORCL is up 55 cents, or 2.9%, to $19.30.
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