Oracle disappoints with its turnover, the title falls

Oracle on Monday reported lower-than-expected revenue for its first quarter ended August 31, due to disappointing sales for its cloud software and licensed support business. /Photo award on June 28, 2018/REUTERS/Mike Blake

(Reuters) – Oracle on Monday reported lower-than-expected revenue for its first quarter ended August 31, due to disappointing sales for its cloud software and licensed support business.

The publication caused the title of the American enterprise software giant to fall by 5% in post-market trading on Wall Street, after a close that was little changed (-0.14%).

Total revenue accelerated to 9.19 billion dollars (7.86 billion euros), from 9.10 billion a year earlier, but analysts expected an even higher rise to 9.28 billion, according to the consensus established by Thomson Reuters I/B/E/S.

Cloud and support division revenue rose 3.2% to $6.61 billion, compared to a consensus of $6.71 billion.

Oracle decided in June to merge the accounts of its burgeoning cloud division with those of its traditional licensed ERP software business.

The American group posted a net profit of 2.27 billion dollars over the three months to the end of August, or 57 cents per share, against 2.14 billion (50 cents/share) a year earlier. Analysts on average had expected earnings per share of 71 cents.

Vibhuti Sharma in Bengalore, VĂ©ronique Tison for the French service

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