Oracle Tumbles 7% After Hours; Missed Street Views By Wide Margin
Oracle Corp. (NYSE: ORCL) shares tumbled seven percent post market after the company missed Wall Street's expectations by a wide margin.
Oracle posted flat fourth-quarter earnings of $0.80 a share, versus analysts' average expectation of $0.89.
Revenue grew 10 percent to $11.32 billion, while the consensus looked for $11.48 billion.
The recent period marks the third sequential earnings miss for Oracle, which nonetheless traded near a 52-week high earlier Thursday.
The company didn't provide an outlook in its earnings release but holds a conference call at 5 p.m. eastern time.
Oracle changed hands recently at $39.75, down 6.49 percent.
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