Deals
Oracle Sales, Profit Miss Analysts’ Estimates
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Oracle Corp.’s profit and sales fell short of analysts’ estimates in the fiscal fourth quarter, as Salesforce.com Inc. and other cloud-computing rivals lure customers away.
Profit before certain costs was 92 cents a share in the period that ended May 31 on revenue of $11.3 billion, the company said in a statement today. On average, analysts projected profit of 96 cents and $11.5 billion in sales, according to data compiled by Bloomberg. The company gave forecasts for the current quarter that were in line with analysts’ estimates.