Thursday, March 21, 2013

Oracle: Sell-Off Creates Long-Term Entry Opportunity

Shares of Oracle (ORCL) are trading with sizable losses of up to 10% in Thursday's trading session. The provider of enterprise software, cloud-based services and computer hardware reported a disappointing set of third quarter results on Wednesday after the close. Investors are also disappointed with a poor revenue guidance for the fourth quarter.

Third Quarter Results

Oracle generated third quarter revenues of $8.96 billion, down 1% on the year before. Software revenues grew some 4% to $6.67 billion, while hardware revenues fell 16% to $1.24 billion. Service revenues also fell 8% to $1.04 billion. Revenues severely missed analysts estimates of $9.37 billion and Oracle's own guidance.

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