Oracle posted its fiscal 2013 Q1 earnings report on Thursday. While profits were up 15%, revenues were down 2% to $8.2 billion, though GAAP new software licenses and cloud software subscriptions were up 5% to $1.6 billion. Non-GAAP new software licenses and cloud software subscriptions revenues were up 6% to $1.6 billion.

“Exadata, Exalogic, Exalytics and our other engineered systems grew more than 100% in the quarter,” said Oracle President Mark Hurd. “For the full year, we expect to double engineered systems sales to well over $1 billion. Oracle’s new cloud business is also approaching a $1 billion annual run rate. These two businesses will drive Oracle’s growth for years to come.”

“A little more than a week from now we will announce lots of enhancements to the Oracle Cloud,” said Oracle CEO Larry Ellison. “There are more CRM, ERP and HCM applications as a service, and more Oracle database, Java and social network platform services. Our new infrastructure as a service is available in the Oracle Cloud and as a private cloud in our customers’ data center, with the unique ability to move applications and services back and forth between the two. Join us at Oracle OpenWorld for all the details.”

Oracle also reported:

Both GAAP and non-GAAP software license updates and product support revenues were up 3% to $4.1 billion. Both GAAP and non GAAP hardware systems products revenues were down 24% to $779 million. GAAP operating income was up 7% to $2.9 billion, and GAAP operating margin was 35%. Non-GAAP operating income was up 1% to $3.6 billion, and non-GAAP operating margin was 44%. GAAP net income was up 11% to $2.0 billion, while non-GAAP net income was up 6% to $2.6 billion. GAAP earnings per share were $0.41, up 15% compared to last year while non-GAAP earnings per share were up 11% to $0.53. GAAP operating cash flow on a trailing twelve-month basis was $14.0 billion, up 9% compared to last year.

Without the impact of the US dollar strengthening compared to foreign currencies, Oracle’s reported Q1 GAAP earnings per share would have been $0.03 higher at $0.44, up 24%, and Q1 non-GAAP earnings per share would have been $0.03 higher at $0.56, up 17%. Both GAAP and non-GAAP total revenues also would have been up 3%, GAAP new software licenses and cloud software subscriptions revenues would have been up 10%, non-GAAP new software licenses and cloud software subscriptions revenues would have been up 11% and both GAAP and non-GAAP hardware systems products revenues would have been down 21%.

You can view the report in its entirety here (pdf).

In other Oracle news, the company has joined FairSearch.