Database giant Oracle reported first quarter net income jumped 36 percent to $1.8 billion, exceeding analyst estimates, as revenue rose a more modest 12 percent to $8.4 billion.

Oracle's per-share earnings, including special items, were 48 cents, compared with analyst estimates of 44 cents, according to Zacks. Both revenue and earnings gains were the smallest since 2009.

Still, Oracle shares fell more than 2.3 percent after the results were announced, in part because the company didn't produce its expected blowout. It also reported hardware sales eased.

While the software giant reported new software license sales increased 17 percent, sales of computer servers -- servers under the old Sun Microsystems label -- dipped five percent.

In that way, Oracle's easing server sales somewhat resemble rival Hewlett-Packard, which last month reported industry standard server sales plummeted 21 percent.

Redwood Shores, Calif.-based Oracle scheduled an investor call with CEO Larry Ellison and other executives later Tuesday.

HP, of Palo Alto, Calif., has decided to spin off its PC segment to focus more on services and also is seeking to acquire Britain's Autonomy for $10.3 billion to better compete against Oracle, IBM and German arch-rival SAP.

Indeed, former SAP CEO Leo Apotheker is now HP CEO, while former HP CEO Mark Hurd is now one of two Oracle presidents.

Oracle shares are 22 percent below their 52-week high of $36.50, closing Tuesday at $28.35. That gives the software giant a market capitalization of $143.3 billion and enterprise value of $134.8 billion.

Oracle's cash and securities pile swelled to $31.7 billion from nearly $29 billion in the fourth quarter. That, as well as the shares, could be useful for a company that has bought scores of companies over the years, including Sun Microsystems, Retek, Siebel Systems and PeopleSoft.

Ellison was ordered to appear before a federal magistrate in U.S. District Court in San Jose, Calif., on Wednesday, along with Google CEO Larry Page, over Oracle's 13-month-old lawsuit charging patent infringement. Oracle has accused Google of using patents for Java software, which came with the Sun acquisition, to bolster its Android OS.

Oracle's lawsuit alleged damages as high as $6.1 billion, while Google countered with an offer to pay royalties around $100 million. U.S. District Judge William Alsup ordered the joint CEO appearance before the magistrate to see if they can't hammer out an in-court deal.

Oracle paid $7.3 billion for Sun. Ellison claimed he could collect more from Java royalties but also needs to ensure that Google succeeds with Android so as to collect the maximum royalty fees.

Market researchers IHSiSuppli and others say Andoid dominates the OS sector for smartphones with a greater than 50 percent share, with the largest remaining share held by Apple.