SAN FRANCISCO (AP) - Oracle is still having trouble closing enough business software deals to keep Wall Street happy. The quarterly results announced Thursday could escalate investors' fears about Oracle's ability to adapt to the changing demands of its customers. The stock fell nearly 3 percent after the release of results.
Oracle's product sales for the three months ending May 31 fell below analyst estimates. In an apparent attempt to placate investors, Oracle Corp. is doubling its quarterly dividend. The company earned $3.8 billion, or 80 cents per share, in its fiscal fourth quarter. That represents a 10 percent increase from income of $3.5 billion, or 69 cents per share, at the same time last year. But revenue remained unchanged from the same time last year to $10.9 billion.