NetSuite Q2 Results

August 13, 2010
By djohnson

(Reuters) – NetSuite Inc (N.N), a maker of Web-based business software for small and mid-sized businesses, posted better-than-expected adjusted quarterly profit, helped by a jump in bookings at its North American segment.

Second-quarter net loss, however, widened to $7.2 million, or 11 cents a share, compared with $5 million, or 8 cents a share, a year ago.

Excluding items, the company earned 3 cents a share, besting analysts’ expectations of 1 cent a share, according to Thomson Reuters I/B/E/S.

Bookings through NetSuite’s North American channel grew 27 percent.

Revenue at NetSuite, which is majority-owned by Oracle Corp’s (ORCL.O) billionaire Chief Executive Larry Ellison, rose 17 percent to $47.1 million. Analysts were expecting revenue of $45.3 million.

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