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Oracle profit misses consensus by 33.5% in fiscal Q2

Oracle Corp. said its normalized net income for the fiscal second quarter ended Nov. 30 amounted to 40 cents per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

EPS fell 12.8% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.72 billion, a decline of 16.5% from $2.06 billion in the prior-year period.

The normalized profit margin declined to 19.2% from 21.5% in the year-earlier period.

Total revenue fell 6.3% year over year to $8.99 billion from $9.60 billion, and total operating expenses fell on an annual basis to $5.95 billion from $6.03 billion.

Reported net income fell 12.7% year over year to $2.20 billion, or 51 cents per share, from $2.52 billion, or 56 cents per share.