FILE -In this June 26, 2012 file photo shows Zynga CEO Mark Pincus walks off the stage after an announcement of new games at Zynga headquarters in San Francisco. Battered shares of Zynga Inc. soared in after-hours trading Wednesday, Oct. 24, 2012, after the social gaming company posted stronger-than-expected revenue for the third quarter and said it will enter the gambling business. (AP Photo/Paul Sakuma, fIle)
News Summary: Oracle falls on weak 3Q report
Published: 11:10:02 PM, Wed 20 March 2013 UTC
SHORTFALL: Oracle Corp.'s fiscal third-quarter results fell shy of Wall Street's expectations on Wednesday. The business software bellwether attributed its revenue decline to a lackluster performance by its expanding sales force rather than a lack of demand.
KEY METRIC DOWN: Revenue from new software licenses and online or "cloud" subscriptions, a closely watched figure, fell 2 percent year-over-year to $2.3 billion. The company had predicted that number would rise by 3 percent to 13 percent.
STOCK SLIDES: Shares of the Redwood City, Calif., company fell $2.56, or 7.2 percent, to $33.20 in after-hours trading following the announcement.
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