Oracle first-quarter revenue misses estimates, shares fall

Shares of Oracle fell 4 percent to $47.30 in extended trading as the company’s biggest unit, which houses its cloud services business, also reported disappointing sales. Revenue in its cloud services and license support business rose 3.2 percent to $6.61 billion, falling short of the average analyst estimate of $6.71 billion, with the co-Chief Executive Officer Safra Katz attributing the miss to a strong dollar. Oracle is a late entrant to the cloud business and has been playing catch up with rivals, including Inc (AMZN.O), Microsoft Corp (MSFT.O) and Inc (CRM.N). …read more

Source:: Yahoo Finance


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