Oracle license sales fall in Q3

Oracle on Wednesday said its third-quarter revenues were US$5.45 billion, a 2 percent hike, but net income fell 1 percent to $1.3 billion.

New software license revenues -- a key indicator of business strength -- fell 6 percent to $1.5 billion.

Analysts polled by Thomson Financial predicted on average that excluding special items, Oracle would report earnings of 32 cents per share, excluding special items, on $5.45 billion in revenue for the quarter.

Oracle slightly beat those expectations, reporting that excluding special items, earnings per share were $0.35 and revenue was $5.5 billion.

Company executives are expected to discuss the results during a conference call Wednesday.

(More to follow)

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