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Oracle quarterly revenue misses on weak hardware sales
September 18, 2014 / 8:42 PM / 3 years ago

Oracle quarterly revenue misses on weak hardware sales

The company logo is shown at the headquarters of Oracle Corporation in Redwood City, California in this February 2, 2010 file photograph. REUTERS/Robert Galbraith

(Reuters) - Oracle Corp (ORCL.N) reported quarterly revenue below analysts’ estimates, hurt by a 7.6 percent fall in hardware systems revenue.

Total revenue increased 3 percent to $8.6 billion in the first quarter ended Aug. 31, but missed analysts’ average expectation of $8.78 billion, according to Thomson Reuters I/B/E/S.

Hardware systems revenue fell to $1.17 billion.

Net income was $2.18 billion, or 48 cents per share, down from $2.19 billion, or 47 cents per share, a year earlier.

On an adjusted basis, Oracle earned 62 cents per share, less than the 64 cents expected on average by analysts.

Reporting by Supantha Mukherjee in Bangalore; Editing by Joyjeet Das

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