Oracle Corp. said its first-quarter profit fell as the company recorded higher costs and lower sales, driven again by a double-digit decline in new software licenses.
The Redwood Shores, Calif., company has blamed disappointing results in recent quarters on the stronger U.S. dollar, which lowers the revenue it records from business abroad.
Japan’s Panasonic Corp on Wednesday reported a 7 percent decline in first-quarter operating profit, missing analyst estimates, as sales fell in its appliances and housing technology businesses.
Profit for April-June fell to 76.56 billion yen ($619.02 million) from the same period a year prior, compared with the 92.7 billion yen average estimate of 19 analysts polled by Thomson Reuters. Sales rose 0.3 percent to 1.86 trillion yen.
While still known as a consumer electronics maker, Panasonic in recent years has turned its attention to new businesses such as high-tech auto parts and energy-saving home systems to escape cut-price competition in smartphones and TVs.
http://www.reuters.com/article/2015/07/29/us-panasonic-results-idUSKCN0Q30OT20150729
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