- Associated Press - Thursday, June 23, 2011

SAN FRANCISCO (AP) - A HARDWARE HEADACHE: Oracle Corp.’s stock slid Thursday after reporting a 6 percent revenue decline in the sale of computer servers and other hardware. The company has been facing intense competition from IBM Corp. and Hewlett-Packard Co. since entering the server business with last year’s $7.3 billion acquisition of Sun Microsystems.

DEAD WEIGHT: Oracle executives say they are shedding the least-profitable server deals. Strength in Oracle’s software business masked the hardware decline, and the overall results topped Wall Street expectations.

A BETTER FORECAST: Oracle’s forecast for the current quarter was in line with analyst estimates. The stock recovered some of its lost ground.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide