Oracle Corp. shares fell as much as 8% in after-hours trading Tuesday following the software giant’s fiscal second-quarter report in which it saw both its earnings and sales fall short of Wall Street analysts’ estimates.
Oracle said it earned of $2.2 billion, or 43 cents a share, on revenue of $8.8 billion, for the quarter ended Nov. 30.
Excluding one-time items, Oracle would have earned $2.8 billion, or 54 cents a share.
During the same period a year ago, Oracle earned 51 cents a share on $8.6 billion in sales.
However, Oracle’s results fell short of the estimates of analysts surveyed by FactSet Research, who forecast the company would earn 57 cents a share, on revenue of $9.23 billion.
There were at least two signs of weakness in Oracle’s report.
The company said new software license sales rose just 2% from a year ago, while earlier forecasts had been for growth of between 6% and 16%.
Hardware sales also fell by 14%, compared to Oracle’s estimate for those sales to be flat, or fall up to 5% from last year’s second quarter.
Oracle also said its board of directors had approved the repurchase of up to an additional $5 billion in stock, and the company declared a quarterly dividend payment of 6 cents a share, to be paid on Feb. 1, 2012.
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