By Aled Herbert, 6 June 2002 08:15
NEWS Oracle chief executive Larry Ellison yesterday warned that the software giant will narrowly miss earnings predictions for the quarter ending 31 May. However, the database giant said it will match consensus earnings forecast of 12 per cent a share. The company had previously predicted profits of 12 to 14 cent, compared to 15 cents in the same period 12 months ago. The company's shares leaped !0.7 per cent immediately following the announcement. Ellison also denied the company was preparing to make widespread redundancies.
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