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Oracle’s results send shares lower ahead of Friday’s open

Ahead of Friday’s open Oracle shares were down around 3% at US$51.20
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First quarter results were better than expected, but second quarter guidance fell short

Software firm Oracle Corporation (NYSE:ORCL) pointed lower ahead of Friday’s open after it revealed financial results for its first quarter.

Earnings were better than expected, at 62 US cents per share compared to 60 US cents consensus, and revenue was reported at US$9.2bn versus expectations for US$9.02bn.

READ: Oracle Corp at all-time high as broker says it is over the 'cloud hump'

Oracle gave guidance for second quarter with earnings of 64 to 68 US cents per share with revenue growth anticipated between 2 to 4% - which was at the lower end of market’s prior expectations.

Ahead of Friday’s open Oracle shares were down around 3% at US$51.20.

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