Oracle Falls Most in a Year After Tepid Outlook for Growth
- Company reports sales increase for third straight quarter
- Bullish investors had pushed up stock to record this week
Photographer: David Paul Morris/Bloomberg
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Oracle Corp. shares fell the most in almost a year Thursday after the company reported sales growth and gave an outlook for the current period that fell short of some projections.
The world’s second-largest software maker said revenue increased 3% in the fiscal third quarter. On a constant currency basis, sales were flat, missing the company’s projections. The revenue forecast for the current period indicates a faster pace of growth isn’t on the way, said Anurag Rana, an analysts at Bloomberg Intelligence.