Oracle: sales disappoint, share falls

(CercleFinance.com) - On Tuesday evening Oracle unveiled Q4 sales (to end-May) that are below expectations, which resulted in the share falling 2% in early trading on Wednesday.


The California software developer's sales over the past three months fell by 6% to 10.4 billion dollars, while analysts were expecting around 10.6 billion dollars.

This decline logically impacted the company's net income, which fell to 3.1 billion dollars, or 1.01 dollar per share, from 3.7 billion dollars, or 1.10 dollar per share, a year ago.

In another mishap is revenue from the cloud and support software division - which is supposed to be the most dynamic business today - this increased just 1% to 6.8 billion dollars.

Jefferies analysts think that this lack of momentum mainly illustrates continued market share losses to Microsoft, Amazon and others.

This view seems to be shared by the market, with the share currently down over 3% on the New York Stock Exchange.


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