Oracle beat estimates on earnings but revenue was up less than 1%, missing on the top line.
Oracle Chairman and Chief Technolgoy Officer Larry Ellison delivers a keynote address during the Oracle OpenWorld conference in San Francisco on October 22, 2018.shares moved 3% lower in extended trading on Thursday after the company reported fiscal second-quarter revenue that fell short of analysts' estimates.Excluding certain items, 90 cents per share, vs. 88 cents per share as expected by analysts, according to Refinitiv.Revenue grew about 0.
The Cloud License and On-Premise License business segment contributed $1.13 billion in revenue, 7% lower and below the $1.17 billion FactSet consensus estimate. Hardware revenue, at $871 million, declined 2% but was ahead of the $846.5 million estimate. Services revenue was down 1% at $806 million, which is about what analysts had expected.
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