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Oracle quarterly results disappoint Wall Street; shares fall

19
Mar
2014

By Noel Randewich SAN FRANCISCO (Reuters) – Oracle Corp posted higher third-quarter revenue and profit that failed to satisfy investors looking for signs of a sustained turnaround and its shares fell about 4 percent. Chief Financial Officer Safra Catz forecast fourth-quarter revenue growth of between 3 percent and 7 percent in constant dollars, equivalent to between $11.3 billion and $11.7 billion. It continues to be a prove me stock in the eyes of investors. The company said new software sales and Internet-based software subscriptions in its fiscal third quarter ended February 28 rose 4 percent from the year-ago period. New software sales are scrutinized by investors because they generate high-margin, long-term maintenance contracts and are an important indicator of future profit.

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