Bloomberg

Oracle Falls After Sales Miss Estimates on Cloud App Growth

(Bloomberg) — Oracle Corp. declined after reporting sales that fell short of analysts’ estimates, with demand for a key cloud-software product slowing from the previous quarter.The world’s second-largest software maker said revenue rose 3.8% to $9.73 billion in the fiscal first quarter. Analysts polled by Bloomberg projected $9.77 billion, on average. Profit, excluding some items, was $1.03 a share, the Austin, Texas-based company said Monday in a statement. Analysts estimated 97 cents a share.

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