Oracle misses on earnings and issues weak revenue guidance

Larry Ellison, chairman and co-founder of Oracle Corp., speaks during the Oracle OpenWorld 2017 conference in San Francisco on Oct. 1, 2017. Oracle issued quarterly results on Monday that trailed analysts' estimates and gave a forecast that came up short of expectations. Here is how Oracle did compared to LSEG consensus: Earnings per share: $1.47 adjusted vs. $1.49 expected $1.47 adjusted vs. $1.49 expected Revenue: $14.13 billion vs. $14.39 billion expected Revenue increased 6% from $13.3 billion in the same period last year. Net income rose 22% to $2.94 billion, or $1.02 a share, from $2.4 billion, or 85 cents a share, a year earlier. Revenue in Oracle's cloud services business jumped 10% from a year earlier to $11.01 billion, accounting for 78% of total sales. The company's cloud infrastructure segment, which helps businesses move workloads out of their own data centers, has been booming due to demand for computing power that can support artificial intelligence projects. Oracl ... Read full article.