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NetSuite Q2 Revenue Rises 30%

NetSuite Inc N 18.16% released its second quarter financial numbers reporting better than expected adjusted earnings and revenue. The results come on the heels of the company being acquired by Oracle Corporation ORCL 0.12%.

The industry's leading cloud-based financials / ERP and omnichannel commerce software suites provder said its revenue reached $230.8 million in the three-month period April to June, representing a 30 percent year-over-year increase.

NetSuite suffered a loss of $37.7 million or a loss of $0.47 a share in the second quarter. In comparison, it incurred a loss of $32.3 million or $0.41 loss per share in the year-ago period. On a Non-GAAP basis, its net income would have been $6.6 million or $0.08 per share, which was higher than $1.7 million or $0.02 per share recorded in the second quarter of 2015.

Wall Street analysts estimated the company to report EPS of $0.03 on revenue of $230.58 million for the same period. The company indicated that its operating cash flows jumped 53 percent on a year-over-year basis to $36.7 million in the second quarter.

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