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Goldman Cuts Oracle Estimates


Goldman Sachs cut estimates on Oracle Corp (ORCL) and maintains market outperform.

Analyst Rick Sherlund says Street estimates have been coming down for Oracle as investors bake in lower expectations for the May quarter following a slower tone of business shown by other tech comanpanies in the March quarter. Oracle has declined sharply already on expectations on a more difficult quarter, and is in line with his revised discount cash flow analysis using a 10% secular growth rate. Sherlund cut the $0.40 fiscal FY 2002 (May) earnings per share estimate to $0.38, and cut the $0.40 fiscal 2003 estimate to $0.35. For the fourth quarter of fiscal 2002, Sherlund cut his license revenue forecast to $1 billion from $1.175 billion.


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