Business Services Industry
Database Software Giant Oracle Reports Disappointing Earnings.
Knight Ridder/Tribune Business News, September, 1999 by Greenberg, Ilan
Knight Ridder/Tribune Business News
Sep. 15 -- Oracle Corp. reported disappointing financial results Tuesday for its fiscal first quarter, continuing the company's recent history of springing surprises -- both pleasant and nasty -- on unsuspecting investors.
The database software giant, based in Redwood Shores, said net income for the quarter ended August 31 rose to $236.7 million, or 16 cents a share, from $195 million, or 13 cents a share, in the year-ago period. Revenue climbed 13 percent to $1.98 billion.
Although the earnings met Wall Street's official forecasts, they fell short of unofficial "whisper" estimates of 19 cents that analysts gave to their biggest customers. In addition, Oracle said revenue growth in key areas slowed...
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