Oracle quarterly results miss forecasts; shares drop

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Getty Images

Oracle shares slumped Tuesday after the software maker posted earnings and revenue that fell shy of Wall Street estimates.

The company posted earnings of 68 cents a share, excluding one-time items, on revenue of $9.32 billion. Analysts expected the enterprise software and computer hardware company to report earnings of 70 cents a share on revenue of $9.36 billion, according to a consensus estimate from Thomson Reuters.

Shares tumbled in extended-hours trading. (Click here to get the latest quotes.)

Oracle also said new software sales and Internet-based subscription rose 4 percent from the same period a year ago, which was in the lower end of the company’s previous guidance of between 2 percent and 12 percent.

“Sales of Oracle’s Cloud Applications accelerated sharply in the quarter with bookings growth of over 60 percent,” said Oracle President Mark Hurd in a press release. “Our quarterly Cloud Application revenue is now approaching $300 million. All of our strategic Cloud Application Suites, including Fusion Enterprise Resource Planning, Fusion Human Capital Management and Fusion Customer Experience, posted triple-digit revenue growth.”

In the previous quarter, Oracle posted a slight beat on the top and bottom line.

Last month, Oracle said it would buy online data management startup BlueKai in an effort to boost its marketing platform.

—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)

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