Netsuite (N) Tops Q2 EPS by 5c
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NetSuite Announces Second Quarter 2016 Financial Results
July 28, 2016 9:08 AM EDTSAN MATEO, Calif., July 28, 2016 /PRNewswire/ -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced results for its second quarter ended June 30, 2016.
Total revenue for the second quarter of 2016 was $230.8 million, representing a 30% increase over the same period in the prior year.
Cash flows from operations were $36.7 million in the second quarter of 2016, a 53% increase over the same period in the prior year.
On a GAAP basis, net loss for the second quarter of 2016 was $37.7 million, or... More
Oracle Buys NetSuite
July 28, 2016 8:08 AM EDTREDWOOD SHORES, Calif. and SAN MATEO, Calif., July 28, 2016 /PRNewswire/ -- Oracle (NYSE: ORCL) today announced that it has entered into a definitive agreement to acquire NetSuite (NYSE: N), the very first cloud company. The transaction is valued at $109.00 per share in cash, or approximately $9.3 billion.
"Oracle and NetSuite cloud applications are complementary, and will coexist in the marketplace forever," said Mark Hurd, Chief Executive Officer, Oracle. "We intend to invest heavily in both products engineering and distribution."
"We expect this acquisition to be... More
