Oracle Tumbles 7% After Hours; Missed Street Views By Wide Margin

Oracle Corp.

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.