Oracle earnings beat Street, but some sales slow
Oracle on Wednesday reported a 1 percent decrease in new software sales and Internet-based software subscriptions in its fiscal second quarter.
The world's No. 2 software maker had forecast that new software sales and subscriptions would either drop as much as 4 percent or rise up to 6 percent in its second quarter, which ended in November. Investors scrutinize new software sales because they generate high-margin, long-term maintenance contracts and are an important indicator of future profit.
The company reported earnings excluding one-time items of 69 cents per share on revenue of $9.28 billion.
Analysts had expected the company to report earnings excluding items of 67 cents a share on $9.20 billion in revenue, according to a consensus estimate from Thomson Reuters.
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—By Reuters with CNBC