Oracle warns it will miss quarterly expectations

The Associated Press
Wednesday November 14, 2001

LAS VEGAS — Oracle Corp.’s chief executive said the database software giant likely will fall short of Wall Street’s earnings estimates for its fiscal second quarter. 

Larry Ellison told reporters late Monday at the Comdex trade show that the tough economic environment following the Sept. 11 terrorist attacks probably will mean Oracle will miss analysts’ earnings expectations of 11 cents per share for the three months ended in November, as compiled by Thomson Financial/First Call. 

Ellison said he now expects earnings of 9 cents or 10 cents per share. 

Shares of Oracle fell 88 cents, or nearly 6 percent, to close at $14.52 in trading Tuesday on the Nasdaq Stock Market.