Earlier this month, Oracle (NYSE: ORCL) announced its third-quarter results. The company outpaced market expectations for the quarter, but the slowdown in its revenue growth is worrying. Despite the slowdown, Oracle is close to its 52-week high.
Revenue for the third quarter declined 1% over the year to $9.6 billion. Net income increased to $2.7 billion, or $0.76 per share, and non-GAAP net income was $3.2 billion, or $0.87 per share. Analysts were expecting earnings of $0.84 per share on revenues of $9.59 billion.