PeopleSoft revenues on target despite Oracle battle
Peoplesoft has exceeded its predicted first-quarter revenues despite the ongoing fight for control of the company against rival Oracle.
Total revenue was $643m (£363m), ahead of its predicted figure of between $625m and $635m. License revenue for the quarter was $131m, also consistent with its guidance.
Net income was $62m, a 62% increase on $28m in the first quarter of 2003.
However its figures exclude charges for purchase accounting adjustments relating to its purchase of financial software company JD Edwards, including the impact on revenues from writing-down the deal to fair value and other restructuring charges.
PeopleSoft president and CEO Craig Conway said: ‘We announced a growth objective for 2004 that was by far the most aggressive in the enterprise application software business, and we are delivering to that plan.
‘With most of the extraordinary distractions now behind us, we can return our full attention to our business.’