Oracle Revenues Light on Dim Sun; Firm Going IaaS

Oracle Revenues Light on Dim Sun; Firm Going IaaS: Oracle turned in its fiscal Q1 scorecard Thursday when the market closed and said earnings were up 11% to $2 billion (41 cents a share) on revenues down 2% to $8.2 billion. Wall Street expected $8.4 billion
New software licenses and cloud software subscriptions revenues were up 5% to $1.6 billion, none of it due to a large deal. The cloud portion, which it broke out for the first time, amounted to $222 million mostly in the US and Asia-Pac. Software license updates and product support revenues were up 3% to $4.1 billion.
Hardware, however, plummeted 24% to $779 million.
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