Oracle profit, sales miss estimates

18th June, 2015
Oracle's fourth quarter revenue fell by 5.4 per cent to $10.7 billion

Oracle’s fiscal fourth-quarter sales and profit fell short of analysts’ estimates, hurt by currency fluctuations and sagging sales to new and existing customers as buyers move to cloud-based products.

Revenue declined 5.4 per cent to $10.7 billion in the period ended May 31, and profit before certain costs was 78 cents a share, the California-based company said.

Analysts on average projected sales of $10.9 billion and profit of 87 cents, according to data compiled by Bloomberg.

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