The Traderszone Network

Published in TZ Latest News 17 June, 2015 by The TZ Newswire Staff

Oracle sales, profit miss estimates; shares fall

Shares of Microsoft Corp (MSFT.O) and Salesforce.com (CRM.N), two of Oracle’s closest rivals, were close to unchanged. “This was an ugly print and speaks to the headwinds Oracle is seeing in the field as their legacy database business is seeing slowing growth,” said Daniel Ives, an analyst at FBR Capital Markets. The 38-year-old company has had some success with the cloud model, but is not moving fast enough to make up for declines in its traditional software sales.