Oracle (Nasdaq: ORCL), the No. 1 database developer, reported first-quarter earnings Thursday that met expectations, but revenue fell 2 percent to $8.2 billion, or about $250 million below analyst estimates. The miss could be a portent of other technology performance in coming weeks.
“We’re off to a good start in the new year,” said Co-President Safra Catz. The company plans to show new hardware and software products at its Oracle World conference in San Francisco starting Sept. 30.
Shares of the Redwood Shores, Calif., company fell slightly in after-hours trading, down 17 cents to $32.09. Earlier Thursday, they closed at $32.26, down 52 cents. For the year, Oracle shares have gained about 26 percent.
Oracle reported operating income of 53 cents a share, as expected. Net income rose 11 percent to $2 billion, or 41 cents a share, on the depressed revenue.
The company blamed some of its performance on the dollar, noting earnings would have risen an additional 3 cents. Overall cash and investments rose to $31.5 billion from $30.7 billion in the fourth quarter. While the company declared a dividend of 6 cents a share, most of its cash is generally used for acquisitions.