In what is being hailed as an optimistic sign for the tech sector overall, Oracle announced strong results for its fiscal third quarter, including new software license revenues that were up 29%. Oracle's fiscal 2011 Q3 GAAP total revenues were up 37% to $8.8 billion, while non-GAAP total revenues were up 36% to $8.8 billion. Both GAAP and non-GAAP new software license revenues were up 29% to $2.2 billion.
GAAP software license updates and product support revenues were up 13% to $3.7 billion, while non-GAAP software license updates and product support revenues were up 13% to $3.8 billion. Both GAAP and non-GAAP hardware systems products revenues were $1.0 billion. GAAP operating income was up 62% to $3.0 billion, and GAAP operating margin was 34%. Non-GAAP operating income was up 35% to $3.9 billion, and non-GAAP operating margin was 44%. GAAP net income was up 78% to $2.1 billion, while non-GAAP net income was up 42% to $2.8 billion. GAAP earnings per share were $0.41, up 75% compared to last year while non-GAAP earnings per share were up 40% to $0.54.
"In Q3 we signed several large hardware and software deals with some of the biggest names in cloud computing," said Oracle CEO Larry Ellison in a statement released by the company with its financial results. "For example, Salesforce.com's new multi-year contract enables them to continue building virtually all of their cloud services on top of the Oracle database and Oracle middleware. Oracle is the technology that powers the cloud."
"Q3 performance was broad based with all geographies reporting revenue growth of 30% or higher," stated Oracle president Mark Hurd. "The sequential revenue growth for Exadata and Exalogic was up over 50%. And we expect to see an even higher growth rate for these two game changing technologies in Q4."
In addition, Oracle also announced that its board of directors declared a quarterly cash dividend of $0.06 per share of outstanding common stock, reflecting a 20% increase over the previous quarter's dividend of $0.05. Additional information is available from Oracle at www.oracle.com.