We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Oracle's new software, cloud revenue dropped 2 percent in Q3

Revenue from new business is important because it helps indicate future growth

Oracle's total revenue dipped 1 percent and profits remained almost flat in its most recent quarter, as revenue from new software licenses and cloud services dropped by 2 percent.

Revenue for the December to February period was US$9 billion while net profit was $2.5 billion, the company said Wednesday.

The 2 percent drop in new software licensing and cloud software subscriptions pushed revenue in that business sector to $2.3 billion.

The amount of money Oracle makes from new licensing is watched closely because it helps indicate future growth. New licensing agreements and subscriptions usually lead to ongoing sales and support contracts that are lucrative for the company.

The license update and support business was almost twice the size of new business in the quarter. It saw revenue of $4.3 billion, up 7 percent on the same period in 2012.

Offsetting the healthy jump in support revenue, Oracle said its hardware products business suffered a 23 percent drop in revenue while its hardware support business fell 6 percent.

(More to follow.)


IDG UK Sites

5 reasons not to wait for the Apple Watch: Why you shouldn't buy the iWatch

IDG UK Sites

Why local multiplayer gaming is rapidly vanishing: we look at the demise of split-screen and LAN...

IDG UK Sites

How Emotional Debt is damaging digital design

IDG UK Sites

iPhone 6 review: Apple's new iPhone is bigger, better & faster than ever before