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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