Oracle (NASDAQ: ORCL) is continuing to grow its software business while moving away from commodity x86 hardware.
Oracle reported first quarter fiscal 2012 revenues of $8.4 billion, a 12 percent year-over-year increase. A key part of Oracle’s quarterly growth was driven by a 17 percent year-over-year gain in software license updates and product support revenues, which were reported at $4.0 billion.
The revenue gains helped to fuel net income of $1.8 billion, up 36 percent from the year-ago quarter. Earnings per share (EPS) were $0.36, a 34 percent year-over-year gain. Moving forward, Oracle provided current quarter revenue guidance for growth in the range of five to nine percent.
Oracle is looking to further grow its revenues and income this year by moving away from the x86 hardware businesses and focusing on hardware that leverages Oracle’s intellectual property.