Shares of Oracle (ORCL) rose up to 2.5% in after hours trading on Tuesday. The provider of enterprise software systems and cloud-based solutions reported its second quarter results for its fiscal 2013 after the market close.
Second Quarter Results
Oracle reported second quarter revenues of $9.09 billion, up 3% on the year before. Revenues came in ahead of analysts consensus of $9.01 billion.
Revenue growth was driven by a 10% increase in software revenues, coming in at $6.65 billion. New software licenses and cloudware subscription revenues rose 17% to $2.39 billion. The strong performance of the software business was offset by a 16% decline in hardware revenues, coming in at $1.32 billion.
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