Oracle Beats Estimates, Guides Lower

SAN FRANCISCO - In the face of market turmoil, Oracle(ORCL Quote) issued a cautious revenue guidance on Thursday for its second fiscal quarter.

The guidance after the company reported first-quarter earnings that exceeded Wall Street's expectations and included exceptional operating margin performance.

Oracle projected second-quarter revenue growth of 12% to 15% in constant currency, implying a top line of $6.01 billion to $6.17 billion, excluding special items. Analysts were anticipating revenue of $6.23 billion, according to Thomson Reuters.

Factoring in a negative three-point currency effect due to the recent strengthening of the dollar, revenue will grow from 9% to 12%, President and CFO Safra Catz said on the conference call. That implies revenue of $5.85 billion to $6.01 billion. ...