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    HomeNewsBusinessStocksOracle Financial shares track parent company's slump

    Oracle Financial shares track parent company's slump

    Shares in Oracle Financial Services Software Ltd fall 2.7 percent, tracking a slump in parent company Oracle Corp on Thursday after the US software maker's Q3 revenue fell far short of expectations.

    March 22, 2013 / 12:32 IST

    Shares in Oracle Financial Services Software Ltd fall 2.7 percent, tracking a slump in parent company Oracle Corp on Thursday after the US software maker's Q3 revenue fell far short of expectations.

    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 percent lower on Wednesday.

    It was Oracle Corp shares' biggest percentage drop since December 2011.

    Oracle Corp owns 80.3 percent in Oracle Financial Services via a subsidiary.

    first published: Mar 22, 2013 12:32 pm

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