Oracle Profits Up, But Revenues Slip

eWeek: Oracle turned in a mixed report for its first fiscal quarter for 2013. The company earned $2 billion in profits, an 11 percent increase from the previous year that exactly matched analyst expectations. However, revenue totaled $8.18 billion, a 2 percent year-over-year decrease that failed to meet analyst expectations.

Oracle blamed much of the revenue shortfall on economic conditions in Europe and unfavorable currency fluctuations.

During the conference call, Oracle CEO and co-founder Larry Ellison touted the next version of the company’s flagship database which it will release within a few months. “We’re rolling the new version of the database with features specifically for the cloud,” Ellison said. “I’m not I want to use the ‘multi-tenant’ term, but this will be a ‘pluggable’ database. This will allow multiple tenants to securely coexist in the same database. Then it’s covered with virtualization, and we take a developer’s approach to security, to make sure your data is isolated and private and safe and secure.”