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Oracle Misses Sales Estimates Again, Shares Plunge

By  +Follow June 21, 2013 10:00AM
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OracleOracle’s (ORCL) sales numbers fell short of Wall Street’s expectations on Friday, as the company cited economic weakness in Asia and Latin America for tepid sales growth. Oracle met earnings expectations of $0.87, but reported $10.95 billion in sales while analysts were looking for $11.12 billion.

This marks the second consecutive quarter Oracle has disappointed investors, who are understandably growing impatient with Oracle’s slowing sales and inability to execute financially. However, CEO Larry Ellison says Oracle has not lost its edge.

“It was clearly an economic issue, not a product, competitive issue,” he said.

Yet, some investors fear that Oracle is starting to fall behind competitively.  Many younger, more aggressive rivals such as Salesforce.com (CRM) offer excellent software at competitive prices through the cloud.  They also have solid sales growth despite the sluggish economic, which is why Oracle investors weren’t satisfied with the economy as an excuse for poor numbers.

The silver lining in the report was that Oracle is doubling its quarterly dividend payment to 12 cents per share, which brought the stock’s yields up to around 1.6 percent.  The company also reported guidance that was in-line with estimates.                                                                                                            

Oracle also announced on Thursday that the company is moving its share-listing from the Nasdaq to the New York Stock Exchange.  The company didn’t elaborate very much on the issue, other than saying the switch is in the shareholders’ best interest.

Shares traded down 8.15 percent to $30.50 on Friday, its lowest level since November. Oracle has been one of the worst performers in the software space, as shares are down over 16 percent since March 15.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for orcl
Market Updater
23 Aug 14 07:38:19
$ORCL: Oregon sues Oracle, claiming fraud over failed Obamacare website http://t.co/jajC6yr1ZT http://t.co/bGvlqD8867
Peter M. O’Donnell
23 Aug 14 07:18:08
Most $ORCL projects end in tears — I hope Oregon nails Ellison’s balls to the wall 😈 http://t.co/NsL1fD1v2P
Lisa M. Brownlee
23 Aug 14 06:27:44
Tech M&A Conditions Good For Blockbuster Year http://t.co/OJQYL9m0PP #IBDNews via @IBDinvestors $ORCL $MSI $ZBRA $AAPL
finsents
23 Aug 14 04:16:47
$ORCL:US 23Aug Negative News #Sentiment http://t.co/QS4TpLiyaB #Russell200
finsents
23 Aug 14 04:15:30
$ORCL:US 23Aug Negative News #Sentiment http://t.co/i3mY64gFOw #SP500
Pivot Point Trading
23 Aug 14 03:12:04
Special VIDEO Trade Analysis $BRK.B $CHK $CNX $CSIQ $DE $FSLR $GRMN $LLY $LNKD $ORCL $PEP $SCTY $SEE $SODA $TGT http://t.co/XNJpbje1oN
Market News Desk
23 Aug 14 02:38:18
$ORCL: http://t.co/0QFB8JzE00 Still Benefiting From ExactTarget Deal http://t.co/X8NSQf54pt http://t.co/UlZPV6Mfe7
4-traders.com
23 Aug 14 01:55:03
Oracle : AG Finds Fraud, Deceit, and Corruption at Oracle; Governor Pledges Full Support to Protect Oregon ... http://t.co/03vYLEqhnN $ORCL
BJ Cefola
22 Aug 14 20:25:14
RT @NickBudnick: Bombshell in Oregon suit vs. Oracle: Firm's ex-employee says $ORCL worked to kill systems integrator hire #HealthIT http:/…
Matt Soleyn
22 Aug 14 20:20:02
#Oracle SUED for #Oregon #Obamacare Exchange failures: http://t.co/XnxAimeJrt $ORCL #HIX #HCR
Frozen Canuck
22 Aug 14 18:17:06
RT @ValaAfshar: U.S. #tech companies founded by 1st/2nd generation immigrants: 1 $AAPL 2 $GOOG 3 $IBM 4 $ORCL 5 $FB 6 $AMZN 7 $QCOM 8 $EMC…
Ryan Eccles
22 Aug 14 18:14:29
RT @ValaAfshar: U.S. #tech companies founded by 1st/2nd generation immigrants: 1 $AAPL 2 $GOOG 3 $IBM 4 $ORCL 5 $FB 6 $AMZN 7 $QCOM 8 $EMC…
Richard Saintvilus
22 Aug 14 17:33:06
Why http://t.co/FeHK0j7Ky4 Stock Remains a Steal at Under $65 http://t.co/lERaoW5Ose via @TheStreet $CRM $ORCL $IBM $WDAY
Nine Stocks
22 Aug 14 14:15:33
MA10-MA50 Bull Crossover Stocks (Aug. 22): $BBY, $CFN, $EAT, $JKS, $ORCL, $TWX http://t.co/1Vk9XdAsEZ
Stock Signaling
22 Aug 14 14:01:58
Profitable Stocks: Recently Upgraded: $AI $CIT $SEP $RICE $AINV $ENZN $JPM $GLNG $KKR $ORCL $BK $ALSK http://t.co/Vtx6dLy0Nw #markets #nyse
Brett Murphy
22 Aug 14 13:44:10
RT @NickBudnick: Bombshell in Oregon suit vs. Oracle: Firm's ex-employee says $ORCL worked to kill systems integrator hire #HealthIT http:/…
Business Updates
22 Aug 14 13:38:22
$ORCL: Microsoft Corporation (MSFT), Oracle Corporation (ORCL) and Aon PLC (AON ... http://t.co/UQww3XTJyE http://t.co/oZDCurs1A1
Jeff Foreman
22 Aug 14 13:27:24
RT @toledonews: Oregon sues tech giant Oracle Corp. over state's troubled "Cover Oregon" health insurance exchange Web site. $ORCL http://t…
John Crossan
22 Aug 14 13:18:40
http://t.co/X2sW3wHE0s Seen Poised For Growth In Europe http://t.co/OjNOogMR0O #IBDNews via @IBDinvestors $CRM $ORCL $SAP
Eric Bricker
22 Aug 14 12:58:04
RT @NickBudnick: Oregon files lawsuit against Oracle, vendor in Cover Oregon health exchange fiasco $ORCL #HealthIT #Obamacare #ACA http://…
Day Trader Woody
22 Aug 14 12:53:33
Added a few more $ORCL 42 calls @ .13
Nick Budnick
22 Aug 14 12:46:09
Oracle says Oregon DOJ's lawsuit against CA technology vendor over exchange is "fictional' $ORCL #HealthIT #ACA http://t.co/7RHYuhrbvp
Kevin
22 Aug 14 12:44:20
RT @NickBudnick: Bombshell in Oregon suit vs. Oracle: Firm's ex-employee says $ORCL worked to kill systems integrator hire #HealthIT http:/…
Alex Wayne
22 Aug 14 12:40:41
RT @NickBudnick: Bombshell in Oregon suit vs. Oracle: Firm's ex-employee says $ORCL worked to kill systems integrator hire #HealthIT http:/…
Jared
22 Aug 14 12:39:44
Also, Ellison and Jobs were both adopted, lived next to each other in Silicon Valley, and obviously friends/competitors. $ORCL $AAPL
Naomi Kaufman Price
22 Aug 14 12:38:23
“@NickBudnick: Bombshell in #Oregon suit v @Oracle: ex-employee says $ORCL worked to kill systems integrator hire http://t.co/mzY3sVBHY0
Stock Market News
22 Aug 14 12:38:19
$ORCL: Sailing-Five challengers confirmed for next America's Cup http://t.co/0Dwl9l5twa http://t.co/iIGuk4tc37
Jared
22 Aug 14 12:37:51
Didn't realize how Ellison nearly lost his house and was broke a few decades ago. $ORCL
Nick Budnick
22 Aug 14 12:32:08
Bombshell in Oregon suit vs. Oracle: Firm's ex-employee says $ORCL worked to kill systems integrator hire #HealthIT http://t.co/g5mEDI9xEU
Day Trader Woody
22 Aug 14 12:15:18
$ORCL more HODing, 42 calls looking good
US Banking News
22 Aug 14 12:13:00
Oracle Stock Rating Reaffirmed by Zacks $ORCL http://t.co/exAXWqssEF
The Toledo Blade
22 Aug 14 12:12:15
Oregon sues tech giant Oracle Corp. over state's troubled "Cover Oregon" health insurance exchange Web site. $ORCL http://t.co/fcrYmKHboT
Dylan Scott
22 Aug 14 11:44:22
RT @aawayne: Oregon sues Oracle, says co "repeatedly lied and defrauded the state" while building broken #Obamacare exchange. $ORCL
Alex Wayne
22 Aug 14 11:40:53
Oregon sues Oracle, says co "repeatedly lied and defrauded the state" while building broken #Obamacare exchange. $ORCL
Financial Headlines
22 Aug 14 11:38:19
$ORCL: Stocks in News: Oracle Corporation (NYSE:ORCL), The Home Depot (NYSE:HD ... http://t.co/J9akm7dGEc http://t.co/27QoTKLdlh
Zubeyr Kamil Açıksar
22 Aug 14 11:19:49
RT @adamsamson: Oregon AG Rosenblum sues Oracle over health exchange website, alleging the firm 'repeatedly lied and defrauded the state.' …
Victoria Craig
22 Aug 14 11:18:16
RT @adamsamson: Oregon AG Rosenblum sues Oracle over health exchange website, alleging the firm 'repeatedly lied and defrauded the state.' …
Chris Rauber
22 Aug 14 11:18:11
RT @NickBudnick: Oregon files lawsuit against Oracle, vendor in Cover Oregon health exchange fiasco $ORCL #HealthIT #Obamacare #ACA http://…
Adam Samson
22 Aug 14 11:17:48
No immediate comment from Oracle. $ORCL
Adam Samson
22 Aug 14 11:17:34
Oregon AG Rosenblum sues Oracle over health exchange website, alleging the firm 'repeatedly lied and defrauded the state.' $ORCL
4-traders.com
22 Aug 14 11:15:04
Oracle : Oregon sues Oracle over failed health care website http://t.co/cqiMuLrnxi $ORCL
4-traders.com
22 Aug 14 11:15:03
Oracle : Oregon sues Oracle Corp. over state's troubled Cover Oregon health insurance exchange http://t.co/zKBbsnf0aH $ORCL
Natalie Cardenas
22 Aug 14 11:14:33
RT @NickBudnick: Oregon files lawsuit against Oracle, vendor in Cover Oregon health exchange fiasco $ORCL #HealthIT #Obamacare #ACA http://…
Chris Lehman
22 Aug 14 11:13:13
RT @NickBudnick: Oregon files lawsuit against Oracle, vendor in Cover Oregon health exchange fiasco $ORCL #HealthIT #Obamacare #ACA http://…
4-traders.com
22 Aug 14 11:10:02
Oracle : Oregon files lawsuit against Oracle Corp. over state's troubled health exchange website http://t.co/tg5OPAmeGD $ORCL
LiveLOOK
22 Aug 14 11:02:31
RT @OracleIR $orcl Five Reasons Why CEOs Should Love the Cloud from @MarkVHurd http://t.co/AXmLZTeupd
Janiece Staton
22 Aug 14 11:01:39
RT @NickBudnick: Oregon files lawsuit against Oracle, vendor in Cover Oregon health exchange fiasco $ORCL #HealthIT #Obamacare #ACA http://…
Adam
22 Aug 14 11:00:29
RT @OMillionaires: Playing $WDAY for a break above $92.50 before wednesday close(earnings after the bell) ~~ $CRM $ORCL http://t.co/LfogZeP…
Oregon Democrats
22 Aug 14 10:56:20
RT @NickBudnick: Oregon files lawsuit against Oracle, vendor in Cover Oregon health exchange fiasco $ORCL #HealthIT #Obamacare #ACA http://…
Elliot Njus
22 Aug 14 10:53:05
RT @NickBudnick: Oregon files lawsuit against Oracle, vendor in Cover Oregon health exchange fiasco $ORCL #HealthIT #Obamacare #ACA http://…
				
				
By  +Follow June 21, 2013 10:00AM
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