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Oracle profit misses consensus by 34.1% in fiscal Q3

Oracle Corp. said its normalized net income for the fiscal third quarter ended Feb. 28 was 45 cents per share, compared with the S&P Capital IQ consensus estimate of 68 cents per share.

EPS decreased year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.02 billion, a decline from $2.12 billion in the prior-year period.

The normalized profit margin dropped to 21.5% from 22.8% in the year-earlier period.

Total revenue came to $9.33 billion, compared with $9.31 billion in the year-earlier period, and total operating expenses rose year over year to $5.89 billion from $5.71 billion.

Reported net income totaled $2.52 billion, or 56 cents per share, compared with $2.56 billion, or 56 cents per share, in the year-earlier period.