- Fox CEO wants US to join France on Internet piracy
- Newspaper circulation may be worse than it looks
- GE, Vivendi talks over NBC Universal stretch on
- B&N Nook sells out, too late for holiday orders
- Dell's profit, stock drop on weak quarterly report
- AOL offers buyouts to over a third of work force
- Google's Chrome OS to be ready for 2010 holidays
- Google adding automatic captions to YouTube videos
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Why Amazon Rules Retail
- Wave of Debt Payments Facing US Government
- China Eastern to Complete Shanghai Air Buy by End '09
- JAL Slides to Record Low on Bankruptcy Jitters
- Prepare For Large Decline In Stocks, Next Year?
- Gold Will Collapse Like Oil Did in 2008: Charts
- The Social Media Gaming Threat
- Paul: Audit the Fed
- Nielsen Ratings Coming to Video Games
- Strong Banks, Weak Credit: Treasury Rethinks TARP
- How Many US Consumers Will Shop this Weekend?
- Tuesday's Heavy Dose of Data to Dictate 'Risk' Behavior
- World's Largest Share Issue Priced at Deep Discount
- Obama says Boosting US Jobs is Top Priority
- Playboy to Outsource Most Magazine Operations: Report
- Why the Dollar Will Likely Stay Weak for Some Time
- EU Drops Proceedings Against Qualcomm
- Appeals Court Denies Microsoft's Alcatel Petition
Text Size 
Computer maker Sun Microsystems suffered a 25 percent fall in quarterly revenue, as uncertainty over its delayed sale to Oracle hurt its business.
 |
Paul Sakuma / AP Sun Microsystems's headquarters in Santa Clara, California. |
] curb its fiscal first quarter loss to $120 million, or 16 cents a share compared with $1.68 billion, or $2.24 a share, a year earlier, according to a filing with the U.S. Securities and Exchange Commission. But revenue fell to $2.24 billion from $2.99 billion in the same quarter a year earlier, and was lower than the average analyst estimate of $2.34 billion, according to Thomson Reuters I/B/E/S.
The 25 percent drop was also steeper than the sales slump at other technology companies. Oracle's total revenue last quarter fell 5 percent from a year earlier, while chipmaker Intel Corp's
"Our first quarter of fiscal year 2010 results continued to be affected by the economic downturn, the uncertainty associated with our proposed acquisition by Oracle, increased competition and delays in customer purchasing decisions," Sun said in a statement on Friday.
Oracle Chief Executive Larry Ellison recently said that Sun is losing about $100 million a month because of uncertainty about its future, as European antitrust regulators pursue an in-depth probe of the deal.
Sun sold itself to Oracle [ORCL
Loading...
()
] after several years of failed attempts to devise a strategy to turn itself around. A sale to Oracle was seen as a way to transform Sun into a diversified technology company selling computers alongside Oracle's software.
But European Union regulators said last month that Oracle has not presented evidence to placate anti-competition concerns. The European Commission faces a Jan. 19 deadline on whether to approve the deal.
Rivals IBM [IBM
Loading...
()
] ], in the meantime, are taking advantage of the uncertainty by luring Sun's customers with steep discounts.
Sun Microsystems has said recently it is cutting 3,000, or around 10 percent, of its jobs worldwide. The cuts were in addition to its plans last year to cut 5,000 to 6,000 jobs.
- A diet high in fat and sugar might actually be good for your portfolio.
- Warren Buffett and Bill Gates discuss the economy and other subjects with CNBC's Becky Quick.
- From the AIG&T to the Merrill Lychee, Jane Wells lists this year's fashionable holiday cocktails.
- The show attracts a big TV audience every year, but this year it may take on even more importance.
- …you'll want to be prepared. Tips for getting the most out of the post-Thanksgiving shopping frenzy.
- Congressman Ron Paul explains to Squawk Box why he’s pushing legislation to audit the Federal Reserve.
Data is a real-time snapshot *Data is delayed at least 15 minutes