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.
Read the entire article on Seekingalpha by clicking the following link
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.
Read the entire article on Seekingalpha by clicking the following link
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