Oracle hit by sales; profit declines in Q2

Oracle hit by sales; profit declines in Q2

After what Chairman and CEO Larry Ellison called its "toughest quarter in a decade," Oracle reported a drop in both revenue and profits for its second quarter ended November 30.

Revenue came in at US$2.4 billion, down 11 per cent from $2.7 billion in the year-earlier quarter. Net income fell by 12 per cent, from $622.8 million to $549.5 million. Oracle forecast a small year-to-year revenue decline during the current quarter.

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