Oracle says its fiscal third-quarter net income has risen two per cent, helped by higher cloud software subscription revenue, but investors wanted more growth and the company's stock fell in late trading.
For the three months through February 28, the business software maker earned $US2.57 billion ($A2.84 billion), or 56 US cents per share, up from $US2.5 billion, or 52 US cents per share, in the same quarter the year before.
Excluding one-time items, the company posted an adjusted profit of 68 US cents per share.
Revenue rose four per cent, to $US9.31 billion from $US8.96 billion.
Analysts polled by FactSet expected a profit of 70 US cents per share on $US9.36 billion in revenue.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
Revenue from new software licences and cloud software subscriptions increased four per cent to $US2.42 billion, as bookings for the company's cloud applications jumped more than 60 per cent. Revenue from software licence updates and product support rose five per cent to $US4.56 billion.
Oracle Corp shares fell $US1.70, or 4.4 per cent, to $US37.14 in aftermarket trading. The stock has gained 7.8 per cent over the past 12 months.
