Oracle Q1 profit up 11 percent, but hardware products revenue drops 24 percent

Oracle on Thursday reported that net income rose 11 percent to $2 billion while revenue fell 2 percent to $8.2 billion in the first quarter ended Aug. 31, with the period marked by some strength in software but falling hardware revenues. New software license sales and cloud subscription revenues rose 5 percent to $1.6 billion.

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