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Oracle misses 3Q revenue expectations, shares fall
Updated: Wednesday, 20 Mar 2013, 4:25 PM EDT
Published : Wednesday, 20 Mar 2013, 4:25 PM EDT
NEW YORK (AP) — Oracle says its fiscal third-quarter revenue declined by 1 percent, falling short of analysts' expectations and sending shares down sharply in after-hours trading.
Oracle Corp. said Wednesday that it earned $2.5 billion, or 52 cents per share, in the December-February quarter. That's up from $2.5 billion, or 49 cents per share, in the same period a year earlier. Adjusted earnings were 65 cents per share in the latest quarter.
Revenue fell 1 percent to $8.96 billion.
Analysts polled by FactSet expected earnings of 66 cents per share, excluding charges for past acquisitions and other costs, on revenue of $9.38 billion.
Oracle says new software licenses and online subscriptions fell 2 percent to 2.3 billion. The company had predicted that number would rise by 3 percent to 13 percent.
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