Oracle's adjusted operating income of US$6.7-billion missed Wall Street’s average target of US$6.8-billion, according to LSEG data.

Oracle missed Wall Street estimates for second-quarter revenue and operating profit on Wednesday, a sign that corporate spending on its cloud services may be cooling amid broader concerns of a bubble in the artificial intelligence market.

Shares of the Austin, Texas-based company fell 5.5 per cent in extended trading.

Oracle posted quarterly adjusted profit of US$2.26 per share, above analyst estimates of US$1.64, according to LSEG data. However, Oracle said both adjusted and unadjusted profits were higher on a one-time US$2.7-billion pretax gain on selling its stake in chip designer Ampere Computing.

Adjusted operating income of US$6.7-billion missed Wall

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