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Oracle edges 1Q target
September 13, 2001: 4:35 p.m. ET

Software provider sees slight fall in revenue, slight gain in profit
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NEW YORK (CNNfn) - Oracle Corp. edged Wall Street earnings estimates in its first fiscal quarter, as the software company posted a slight gain in profit despite slightly lower revenue.

The second-largest independent software provider behind Microsoft Corp. on Thursday reported net income of $510.6 million, or 9 cents a diluted share, for the period ending Aug. 31, up from $500.7 million, or 8 cents a diluted share, a year earlier.

Analysts surveyed by earnings tracker First Call were looking for earnings per share of 8 cents from the Redwood Shores, Calif.,-based company.

Revenue rose to $2.24 billion in the period, just above the First Call forecast but down from the $2.26 billion in revenue a year earlier. Revenue from services business fell while revenue from licenses and other gained slightly.

The company did not give any guidance for future periods, saying it would issue another release and hold a conference call after markets reopen on Monday.

Oracle said that seven of its employees are missing in the World Trade Center collapse in New York caused by the terrorist attack, and that another employee was on the United Airlines flight that crashed into the trade center. graphic