Oracle has experienced a reduction of 1 percent in the last quarter, with revenue relating to new cloud and software services falling by 2 percent.

Profits have been impacted by customersholding out on recent purchases in expectation of purchasing new products from Oracle that are around the corner, with its new line of T5 servers set to be released next week.

Safra Catz, Oracle's chief financial officer, said of the new servers: “our customers know the new products are coming out next week and have held off for that".

Oracle announced that over December to February revenue totalled $9 billion with net profit reached $2.5 billion.

Revenue relation to hardware products and hardware support for business suffered however, with a drop of 23 percent and 6 percent respectively.

Oracle acquires Acme Packet for $1.7 billion