September 18, 2014 / 8:39 PM / in 3 years

Oracle quarterly revenue misses on weak hardware sales

(Reuters) - Oracle Corp (ORCL.N) reported quarterly revenue below analysts’ estimates, hurt by a 7.6 percent fall in hardware systems revenue.

The company logo is shown at the headquarters of Oracle Corporation in Redwood City, California in this February 2, 2010 file photograph. REUTERS/Robert Galbraith

Total revenue increased 3 percent to $8.6 billion in the first quarter ended Aug. 31, but missed analysts’ average expectation of $8.78 billion, according to Thomson Reuters I/B/E/S.

Hardware systems revenue fell to $1.17 billion.

Net income was $2.18 billion, or 48 cents per share, down from $2.19 billion, or 47 cents per share, a year earlier.

On an adjusted basis, Oracle earned 62 cents per share, less than the 64 cents expected on average by analysts.

Reporting by Supantha Mukherjee in Bangalore; Editing by Joyjeet Das

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