Oracle Falls After Reporting Unexpected Hardware Sales Drop
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Oracle Corp. dropped in U.S. trading after reporting a decline in hardware sales, fueling concern the top maker of database software may not be benefiting as much as predicted from its Sun Microsystems Inc. acquisition.
Hardware sales declined 6 percent to $1.16 billion, Redwood City, California-based Oracle said in a statement yesterday. The company had forecast in March an increase of 6 percent to 12 percent.