Oracle fiscal 2Q net income falls slightly
NEW YORK (AP) — Oracle’s fiscal second-quarter net income edged down slightly, hurt by flat revenue from new software licenses and cloud software subscriptions.
The business software maker earned $2.55 billion, or 56 cents per share, compared with $2.58 billion, or 53 cents per share, in the same quarter a year ago. Excluding charges, the company posted an adjusted profit of 69 cents per share for the recent quarter.
Revenue rose 2 percent to $9.28 billion, but revenue from new software licenses and cloud software subscriptions was flat at $2.38 billion.
The results beat Wall Street’s predictions. Analysts polled by FactSet expected a profit of 67 cents per share on $9.18 billion in revenue.
Shares of Redwood Shores, California-based Oracle Corp. fell 33 cents to $34.27 in aftermarket trading after the results were released.