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.
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