Enterprise software maker Oracle reported disappointing earnings and revenue results in its fourth quarter as software sales saw little growth from a year earlier.
The company said its profit rose 10 percent to $3.8 billion on sales of $10.9 billion, the same as in the fourth quarter of 2012.
New software licenses, which are the key driver of the company's growth since they yield recurring payments for subscriptions and services, grew just 1 per cent to 4 billion dollars, sending the company's shares down over 9 per cent in late trading.
Analysts said the software miss was a sign that customers could be switching to cloud-based systems from rivals such as SAP and Salesforce.com, which don't require expensive arrays of servers like Oracle does.
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