Oracle shares down on sales, profit miss

SAN FRANCISCO — Oracle shares dropped after quarterly earnings and revenue fell short of Wall Street expectations.

Oracle, like other companies, blamed the strong dollar for eating into overseas sales. Without the volatility in foreign exchange rates, Oracle said its revenue would have risen 3%.

The Redwood City, Calif. company, which is pushing into cloud services, reported adjusted earnings of 78 cents on revenue of $10.71 billion.

Wall Street expected Oracle ORCL to report earnings per share of 86 cents per share on $10.92 billion in revenue, according to Thomson Reuters.

The stock fell 6% in after-hours trading.

The fourth quarter ended May 31. It's usually the strongest sales period of the year.