Oracle 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.
Shareholders had grown more optimistic after Oracle's previous quarterly results, but still worried about slow IT spending and growing competition from smaller, nimble rivals.
On Tuesday, the company also forecast current-quarter results roughly in line with investors' targets.
(Read more: Adobe forecast tops estimates as subscriptions rise)
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. Wall Street had expected $11.5 billion.
She told analysts on a conference call that she expected current quarter earnings of 92 cents to 99 cents per share, versus analysts' consensus estimate of about 96 cents. New software and sales and subscriptions should grow between zero and 10 percent, she said.