Oracle Corp., the largest maker of database software, fell after reporting a second straight quarter of sales that missed estimates as customers shifted spending to rivals’ business tools delivered via the Web.
Shares in Oracle, which also issued a profit forecast for the current quarter at the lower end of analysts’ projections, slumped 9.1 percent in extended trading. Customers are choosing online applications instead of Oracle’s databases, human- resources tools and financial-management software, prompting Chief Executive Officer Larry Ellison to acquire cloud-computing companies to catch up. Still, new software license sales missed estimates, indicating that growth is stalling, according to Pat Walravens, an analyst at JMP Securities LLC in San Francisco.
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