Goldman Cuts Oracle's Estimates - TheStreet


(ORCL) - Get Report

was falling in early trading after Goldman Sachs lowered its estimates for the software company.

The firm cut its projection for Oracle's 2002 earnings to 38 cents from 40 cents a share and its 2003 estimate to 35 cents from 40 cents. Both are below the consensus expectation. According to Thomson Financial/First Call, Wall Street, on average, is looking for 40 cents in 2002 and 45 cents in 2003.

Goldman Sachs also lowered Oracle's fourth-quarter license revenue forecast to $1 billion from about $1.18 billion. Goldman attributed the revisions to the "slower tone of business shown by other tech companies in the March quarter."

Shares of Oracle were recently down more than 3% to $8.29 after closing at $8.55 Thursday.