Oracle Misses on Q3 EPS
Oracle has reported its fiscal Q3 2013 results. For the quarter, non-GAAP revenue was just under $9.0 billion, down 1% on a year-over-year basis. Net income was also down by roughly the same percentage, landing at $3.1 billion ($0.65 per diluted share).
Those numbers came in below analyst expectations, which were for revenue of $9.4 billion and EPS of $0.66.
During Q3, most of Oracle's product categories declined year over year. Revenue for new software licenses and cloud software subscriptions fell by 2% to $2.3 billion, while that for hardware systems dropped by 16% to $1.2 billion. On the other hand, the company's crucial software license updates and product support category gained 7% to $4.3 billion.
The article Oracle Misses on Q3 EPS originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Oracle. The Motley Fool owns shares of Oracle. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.