Oracle Q1 revenue jumps 48%

IDG News Service - Oracle's first-quarter revenue jumped 48% over the same period last year to $7.5 billion, the company reported Thursday. Net income was up 20% to $1.4 billion.

New software license revenue, a key indicator of growth, jumped 25% to roughly $1.3 billion.

Hardware systems revenue, another keenly watched metric following Oracle's recent purchase of Sun Microsystems, was $1.69 billion. That figure represents a drop from the $1.83 billion in quarterly hardware revenue Oracle reported in June, but Oracle typically does a disproportionate amount of business in the fourth quarter.

Oracle is planning to discuss the results further during a conference call Thursday, which is also expected to feature former Hewlett-Packard CEO Mark Hurd in his first public appearance since being named Oracle's co-president on Sept. 7.

Developing story. More to come.

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris's e-mail address is Chris_Kanaracus@idg.com