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Oracle Sales, Profit Miss Estimates on Cloud Competition

Oracle Corp. reported fiscal third-quarter sales and profit that fell short of analysts’ estimates as the software maker faced stiffer competition from Salesforce.com Inc. and rivals selling Internet-based programs.

Revenue in the period that ended Feb. 28 was $9.31 billion, and profit before certain costs was 68 cents a share, Oracle said yesterday in a statement. On average, analysts projected $9.36 billion in sales and profit of 70 cents, according to data compiled by Bloomberg.