Oracle has turned in yet another sparkling quarter, with revenue up 26% to $4,5-billion and net income up 25% to $840-million.
"We reported new software license revenues up 35%, the strongest growth of any quarter in 10 years and that software sales growth is translating nicely into EPS growth," says Oracle president and CFO, Safra Catz.
"We've now completed thirteen quarters of our five year EPS growth plan of 20% per year, and we are delivering earnings growth well ahead of that target."
The software giant is still behind SAP in market share, but is steadily closing the gap, according to Oracle president, Charles Phillips.
"In Q1 Oracle's applications new license sales grew 65% compared to SAP's new license sales growth rate of 18% in their most recently completed quarter. We like our growth strategy of expanding into high-end industry specific vertical software as opposed to SAP's growth strategy of moving down market to sell software to small companies."
And it's not just application software that's driving Oracle's growth: database and middleware new license sales grew at 23% – the highest in seven years, according to CEO, Larry Ellison.
"Oracle passed IBM to become the number one database company a long time ago. If we continue to grow our middleware