SAN FRANCISCO: Oracle Corp blamed its rapidly expanding salesforce for a severe miss in third-quarter software sales and warned that its ailing hardware business will lose more ground this quarter, driving its shares 8% lower on Wednesday.
The world's No. 3 software maker projected a 1-11% rise in new software licenses and Internet-based subscriptions in the May quarter — an indicator of future performance. But investors focused on a 2% slip in the February quarter that badly missed Wall Street's targets.
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