Oracle stocks down on sales data

<p>Weak sales data led to Oracle’s share price falling.</p>

Oracle's share price has taken a dive today (June 21st) after the company revealed its latest financial data.

The firm saw revenue from software sales and internet subscriptions increase by one per cent to $4 billion (£2.58 billion) and net profit was up by ten per cent to $3.8 billion for the fourth quarter.

But investors still responded negatively to the data, with the share price of the company plunging by eight per cent in after-hours trading.

Oracle revealed that its revenue for the period was $10.9 billion, which is slightly below the $11.2 billion that had been expected by analysts.

At 16:46 BST, the share price of Oracle had dropped to 30.37, down 2.84 points on the start of the day's trading on the Nasdaq.

This was a fall of more than 8.5 per cent for the day, making it one of the major falls on the global markets today.

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