(Bloomberg)
Profit before some cost in the fiscal second quarter ended November 30 was 54 cents per share, on revenue which excludes certain items $ 8.81 million, the company said in a statement yesterday. Analysts had been projecting profit 57 cents sales 9.23 billion, an average of estimates compiled by Bloomberg.
Oracle and other business software companies are taking longer to close deals as companies gird for slowing economic growth in the US and the possibility of recession in Europe next year, said Rick Sherlund, an analyst at Nomura Holdings Inc. of new software licenses, an indicator of future revenues, rose less than projected Sherlund, and sales of hardware are obtained through Sun Microsystems deal fell more than expected.
Shares of Redwood City, California-based Oracle tumbled as low as $ 26.10 in extended trading yesterday. Before the report, they gained 1.9 percent to $ 29.17 near in New York. The stock has dropped 6.8 percent this year. The company also said it will buy back as much as $ 5 billion in stock.