News Summary: Oracle's 1Q produces mixed bag

AP News
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Posted: Sep 20, 2012 8:03 PM
News Summary: Oracle's 1Q produces mixed bag

GOOD NEWS, BAD NEWS: Oracle's fiscal first-quarter results included heartening and troubling signs. The business software maker's earnings climbed 11 percent from the same time last year to $2 billion to match analyst estimates. But revenue dipped by 2 percent, a shortfall that Wall Street didn't anticipate.

THE TREND: The performance announced Thursday provided the latest indication that companies and government agencies are becoming more reluctant to spend in an uncertain economy.

REASSURING SIGN: Oracle Corp. eased investor concerns with a forecast calling for revenue to increase slightly in the current quarter ending in November.