Oracle's 1Q earnings rise, but revenue disappoints

(AP)—Oracle's earnings matched analyst estimates in the latest quarter, but a revenue decline signaled the business software maker is having a tougher time closing deals.

The fiscal first-quarter results announced Thursday are the latest indication that companies and government agencies are clamping down on technology spending amid mounting uncertainty about the economy.

Oracle Corp. earned $2 billion, or 41 cents, per share for the three-month stretch ending in August. That's an 11 percent increase from income of $1.8 billion, or 36 cents per share, at the same time last year.

Excluding certain accounting items, the Redwood City, Calif., company says it earned 53 cents per share, mirroring analyst projections.

Revenue dipped 2 percent from last year to $8.2 billion. That was about $200 million below analyst forecasts.

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