ORCL to miss Q3 earns target (ORCL) by Chris Kraeuter
Oracle Corp. (ORCL) said third quarter net income will be 10 cents a share compared with 8 cents a share during the same quarter last year. Analysts surveyed by First Call/Thomson Financial expected earnings of 12 cents a share. Actual results will be reported on March 15. "With continued uncertainty in the economy, we can't predict when sales growth will improve," said CFO Jeff Henley. Larry Ellison said the quarter looked good until the last few days of the quarter when a "substantial number of customers decided to delay their IT spending. The problem is the U.S.
economy." Database revenue growth is estimated to be flat to slightly negative and applications revenue growth should be up about 50 percent. License revenue grew 6 percent and total revenue increased 9 percent.
Oracle Corp. (ORCL) said third quarter net income will be 10 cents a share compared with 8 cents a share during the same quarter last year. Analysts surveyed by First Call/Thomson Financial expected earnings of 12 cents a share. Actual results will be reported on March 15. "With continued uncertainty in the economy, we can't predict when sales growth will improve," said CFO Jeff Henley. Larry Ellison said the quarter looked good until the last few days of the quarter when a "substantial number of customers decided to delay their IT spending. The problem is the U.S.
economy." Database revenue growth is estimated to be flat to slightly negative and applications revenue growth should be up about 50 percent. License revenue grew 6 percent and total revenue increased 9 percent.