The company logo is shown at the headquarters of Oracle Corporation in Redwood City, California in this February 2, 2010 file photograph.
/Robert Galbraith/
Oracle Corp, a business software and database company, reported fourth-quarter profit and revenue below analysts' average estimates, hurt by a strong dollar and lower revenue from new software licenses business.Shares of Oracle, seen as a barometer for the technology sector, fell 7 percent to $41.75 in after-hours trading.Oracle's net income fell to $2.76 billion, or 62 cents per share, in the fourth quarter ended May 31, from $3.65 billion, or 80 cents per share, a year earlier.On an adjusted basis, the company earned 78 cents per share. Revenue fell 5.4 percent to $10.71 billion. Revenue rose 3 percent on a constant currency basis.Analysts had expected a profit of 86 cents per share on revenue of $10.92 billion, according to Thomson I/B/E/S. Revenue in the company's cloud-computing software and platform service, an area keenly watched by investors, rose 29 percent to $416 million.Oracle's success in beefing up its cloud divisions is a gauge for how well the company can fight off competition from cloud-software companies such as Salesforce.com Inc. The four-decade old company is putting up a strong fight against newer, smaller software sellers, but risks shrinking profit margins. (Reporting By Lehar Maan in Bengaluru; Editing by
Savio D'Souza)
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