Oracle co-CEO Mark Hurd taking leave of absence

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Breaking

Oracle stock slips as revenue comes up short, Hurd takes leave

Oracle Corp. shares declined in the extended session Wednesday after the database giant reported revenue short of Wall Street estimates and said one of its co-chief executives was taking a leave of absence. Oracle shares declined 3.9% after hours, following a 1.5% rise in the regular session to close at $56.29. The company reported fiscal first-quarter net income of $2.14 billion, or 63 cents a share, compared with $2.27 billion, or 57 cents a share, in the year-ago period. Adjusted earnings were 81 cents a share. Revenue rose to $9.22 billion from $9.19 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 81 cents on revenue of $9.29 billion. Oracle said that co-CEO Mark Hurd will be taking a leave of absence ddue to health reasons, and that co-CEO Safra Catz and Chairman Larry Ellsion will cover Hurd’s duties. The company also said its board increased its share repurchase authorization by $15 billion. Oracle had previously scheduled its earnings report for Thursday after the bell.

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply