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Oracle Corp. shares fell in the extended session Thursday after the database-software company’s earnings missed Wall Street estimates.
Oracle
ORCL,
shares fell as much as 8% after hours, following a 0.7% rise in the regular session to close at $76.65.
For the fiscal third quarter, Oracle reported net income of $2.32 billion, or 84 cents a share, compared with $5.02 billion, or $1.68 a share, a year ago.
Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.13 a share, compared with $1.16 a share in the year-ago period.
Revenue rose to $10.51 billion from $10.09 billion in the year-ago quarter.
Analysts surveyed by FactSet had estimated earnings of $1.18 a share — based on Oracle’s forecast of $1.14 to $1.18 a share — and revenue of $10.51 billion.
Oracle shares are up 6% over the past 12 months, versus a 5% decline by the iShares Expanded Tech-Software Sector ETF
IGV,
while the S&P 500 index
SPX,
has gained 9% and the tech-heavy Nasdaq Composite Index
COMP,
is virtually flat.
