Oracle Posts Flat 3rd-Quarter Profits to 2.5 Billion

Oracle Corp. (ORCL) posted flat fiscal third-quarter earnings as the technology company's hardware revenue continued to weaken and license revenue slipped, though overall software revenue improved.

Shares sank 6.6% to $33.42 after hours as revenue fell short of the company's expectations.

Oracle makes databases and other software that businesses use for a range of tasks including balancing the general ledger and tracking inventory.

Strength in Oracle's traditional software business has helped offset recent revenue declines in its hardware segment. Oracle entered the hardware business through its $7.5 billion acquisition of Sun Microsystems in 2010 and has said it expects the hardware business to start to grow by the end of the fiscal year. Oracle has noted weakness in hardware revenue is the result of turning the business away from commodity servers and storage gear to engineered systems built around its Exadata and Exalogic database machines.

The company is aggressively expanding its Fusion cloud-applications business and has further grown its cloud business through a string of acquisitions. Oracle has also been steadily expanding its presence in the networking sector, last month unveiling plans to buy telecommunications gear maker Acme Packet Inc. (APKT) in a deal valued at $1.7 billion.

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