Oracle hardware sales drop, shares fall

It was on the same day that Oracle’s earnings came and Micron Technology reported quarterly revenue below expectations. Tech investors pay attention to Oracle’s earnings as it is the first to give a glimpse of business conditions in the most recent months.According to an analyst with Global Equities Research, Oracle’s results suggest spending on technology has slowed down.While Oracle’s quarterly profit, excluding items, rose to 75 cents a share , Over the past six quarters Oracle has exceeded profit estimates by an average of 10 percent. Companies first-quarter forecasts said it expects to post first quarter profit, excluding items, of 45 to 48 cents per share.

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Oracle hardware sales drop, shares fall