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Oracle: shares fall after mixed results and CEO leave

(CercleFinance.com) - Oracle shares dropped by 5% on Thursday, as first-quarter results were mixed and the US enterprise software maker surprisingly announced the departure of its chief executive for health reasons.


For the fiscal quarter ended 31 August, Oracle's revenue rose 2% to 9.2 billion euros. Net income reached 2.1 billion dollars, up 23%.

Non-GAAP net income was 2.8 billion dollars, with non-GAAP EPS up 14% at 0.81 dollar, in line with the consensus.

For the second quarter, Oracle said it expects software revenues of 7.95 billion dollars (+1% year-on-year), compared to Street expectations of 8.1 billion dollars.

"Second-quarter was guided below expectations and management hesitated to re-affirm top-line reacceleration this year given leadership disruptions and a North America sales re-organization," analysts at Credit Suisse noted.

Oracle said that Mark Hurd, its chief executive officer, will take a leave of absence for health related reasons, without providing any further details.

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