Oracle reported third quarter earnings that were weaker than expected. The software giant’s adjusted earnings came in at $1.13 per share, falling short of the Street expectations by 5 cents.
Revenues climbed +4% to $10.5 billon. Organic revenue in application subscription products grew 10% to $3.2 billion, and overall organic revenues rose +7%, the strongest in ten years.
The company’s Cloud division revenues exceeded $2.8 billion. Profit margins in the cloud segment were 84%, which is similar that in the prior quarter.