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