Oracle Corp. yesterday reported strong overall revenue growth and profitability in its first fiscal quarter, although revenue from new licenses of applications was down sharply compared with the same period a year ago.
Oracle officials, however, said the drop-off in the company’s applications business was not caused by current uncertainties in the global economy. Instead, said Oracle Co-President Safra Catz, the slip was due primarily to the fact that the most recent quarter’s results are being compared with a year-earlier period in which Oracle’s application new license revenue soared by 65%.
“It was a very difficult comparison,” Catz told financial analysts on a conference call. “That’s really all you’re seeing.”
“We’re extremely pleased with our execution and growth in our applications business since our applications license revenue has more than tripled over the last three years,” Catz added.