Global business software provider Oracle Corporation today posted a 12 per cent rise in profit in the quarter ended November 30, riding on cost cutting drive and better revenues.
Oracle Corp's profit in the second quarter of fiscal 2010 stood at $1.45 billion against $1.29 billion in the year-ago period, the company statement said.
The revenue grew four per cent in the second quarter of FY 2010 to $5.9 billion compared to $5.6 billion in the corresponding period last year.
"We delivered results which were substantially better than we expected on both the top and bottom line, growing non-GAAP operating margins by 280 basis points to 49 per cent, the highest second quarter non-GAAP operating margin in our history," said Oracle CFO Jeff Epstein.
"Our solid top line growth, coupled with disciplined expense management, was key in generating $8.4 billion of free cash flow over the last twelve months," Epstein added.
In addition, Oracle's board of directors declared a cash dividend of $0.05 per share of outstanding common stock to be paid to stockholders on record date January 19, 2010.
