Oracle's Revenue Misses Estimates as License Sales Decline
- Software maker navigating transition to cloud computing
- Strength of U.S. dollar curbed international revenue
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Oracle Corp.’s fiscal first-quarter revenue fell short of analysts’ projections, crimped by a slowdown in software license sales amid a shift to Web-delivered cloud products.
Revenue in the period that ended Aug. 31 fell 1.7 percent to $8.45 billion, and profit before certain costs was 53 cents a share, the Redwood City, California-based company said Wednesday in a statement. Analysts on average had forecast sales of $8.53 billion and profit of 52 cents, according to data compiled by Bloomberg.