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Oracle misses 3Q revenue expectations

March 21 2013 at 01:45am

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Reuters

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New York - Oracle says its fiscal third-quarter revenue declined by one percent, falling short of analysts' expectations and sending shares down sharply in after-hours trading.

Oracle said on Wednesday that it earned $2.5-billion, or 52 cents per share, in the December-February quarter.

That's up from $2.5-billion, or 49 cents per share, in the same period a year earlier. Adjusted earnings were 65 cents per share in the latest quarter.

Revenue fell one percent to $8.96-billion.

Analysts polled by FactSet expected earnings of 66 cents per share, excluding charges for past acquisitions and other costs, on revenue of $9.38-billion.

Oracle says new software licences and online subscriptions fell two percent to 2.3 billion. The company had predicted that number would rise by three percent to 13 percent. - Sapa-AP


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