Oracle Posts Q2 '98 Financial Results

Oracle (Redwood Shores, CA, Nasdaq: ORCL

) reports Q2 '98 financial results. Revenue of $1.614 billion represents a 23% increase from Q2 '97. A net income of $187 million compares with a Q2 '97 net income of $179 million. Services accounted for 60% of total revenue. The company is "clearly disappointed" with the results, said CFO Jeffrey Henley, who added that recent turbulence in the Asia Pacific and the strength of the U.S. dollar significantly impacted quarterly results. Excluding the impact of currency exchange, negatively affected by the economic situation in Asia-Pacific, overall revenue would have increased 29%. During the quarter Oracle released an on-line analytical processing (OLAP) product suite for Sales and Marketing, and signed a bundling agreement with Micron Electronics (Nampa, ID) to pre-install Oracle's Data Servers database management systems on Micron servers.