Oracle Falls Most Since 2002 After Missing Profit Estimates

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Oracle Corp. dropped the most in more than nine years, dragging down other software makers, after it reported quarterly sales and profit that missed analysts’ estimates in a sign companies are spending less on programs that help them manage operations.

The second-largest software maker said profit before some costs in the fiscal second quarter ended Nov. 30 was 54 cents a share, on revenue excluding certain items of $8.81 billion, according to a statement yesterday. Analysts had projected profit of 57 cents on sales of $9.23 billion, the average of estimates compiled by Bloomberg.