Oracle's Q1 FY14 results: solid results on the Software side, but prudence for Q2
Yesterday evening, Oracle reported Q1 FY14 sales (FYE 31st May) in line with consensus but at the low-end of company guidance due to Hardware, while new licence sales and cloud subscriptions are at the top of the range. Q2 guidance is prudent amidst tough comps and question marks on the economic backdrop. We view these numbers as a mixed read-across for European Software companies, so we expect slightly negative share price reactions short term.
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