Oracle revenue trails forecasts; after-hours stock price slumps
Article Abstract:
Oracle announced $1.37 billion in revenue for the first-qtr FY 1997, which failed to meet analysts' projections of about $1.4 billion. Wall Street specifically criticized Oracle's 6% growth in database software sales over the first qtr of FY 1996. Oracle, which began migrating to its new Oracle8 database product, was expected to expand 20% in the database software market. Company leaders blamed the sag in database growth on coincidences that included phenomenal database sales in the 1996 first qtr and recent problems stemming from a major reorganization. Oracle's database growth for FY 1997 will exceed FY 1996 totals by 25% to 30%, according to Pres and CEO Raymond J. Lane. Oracle is a $6 billion software giant that pleased analysts with the performance of its database-compatible applications programs, plus software consulting and other services.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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Oracle's net surged in its 4th quarter, signaling rebound
Article Abstract:
Oracle Systems Corp realized a net income of $28.8 million, or 20 cents per share, for 4th qtr FY 1992, ending May 31. The software manufacturer's increased profitability was unexpected, and industry analysts believe that it signals a turnaround for Oracle. During the fourth quarter of the previous year, Oracle posted earnings of $5.5 million, or 4 cents a share. Oracle credits its rebound to growth in the US market and increased sales of its Unix operating system. Unix sales totaled $146 million, as compared to $90 million during the previous year. The company grew significantly during the 1980's and was then beset by hard times, posting its first quarterly loss in 1990. Oracle subsequently modified its accounting practices and paid off debts, improving its financial position.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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Oracle to post loss of about $27.4 million for its 1st period, despite revenue rise
Article Abstract:
Oracle Systems Corp reports 30 percent growth for the company's fiscal 1st qtr. Unfortunately, Oracle had built up operations in expectation of 50 percent growth, so that expenses exceeded revenue causing a quarterly loss of 20 cents a share, which is the first loss in the company's history. The company has about 137 million shares outstanding, so that the loss translates into $27.4 million. When the news was released, Oracle's stock fell $1.75 a share on Sep 7, 1990, closing at $8.125. Oracle's stock has dropped 71 percent from a peak in Mar 1990 of $28.375, losing about $2.77 billion in market value.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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