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Earnings per share for the three months ending 30 November came in at 10 cents, down from 11 cents in the second fiscal quarter of 2001. Revenue was $2.4bn, down slightly from $2.7bn a year ago.
Revenue from new software licences fell 27% from a year ago, while revenue from software-licence renewals and product support services increased 8% and 12% respectively, the company said.
Oracle's chairman and chief executive officer, Larry Ellison, called the period "our toughest quarter in a decade". Despite that, he said, the company reported more than $800m in operating profit and operating margins of 35%.
Net income for the period was $549.5m, down from $622.8m a year earlier.
The earnings per share figure falls in line with analysts' lowered expectations, according to Thomson Financial/First Call. Wall Street had originally been looking for a profit of 11 cents a share, matching last year, but dropped their estimates by a penny after Ellison warned in early November that business was slower than expected.