Oracle has declared Q3 revenues of $9.3 billion, a four percent rise year-on-year that still fell somewhat short of Wall Street’s expectations.

According to Oracle’s Q3 2014 fiscal report, the company saw its GAAP earnings per share rise to $0.56, an eight percent increase that’s just short of its projected 10 percent rise. In addition, Oracle saw revenues increase across both its hardware and software businesses, though Oracle Services’ revenues took a four percent knock compared to Q2. In all, though the company was able to boost its revenues in comparison to last quarter, the gains were still short of Wall Street’s original estimates.

Oracle claims that it would have made its target if not for “the impact of the US dollar strengthening compared to foreign currencies,” but analysts remain unconvinced. In the hours following its announcement, Oracle’s shares fell by five percent, while ORCL trading was down by 3.4 percent.

Oracle achieved a net income of $2.56 billion for the quarter, which is two percent higher than the same quarter of last year. Once again software was its biggest cash cow, accounting for 75 percent of its total revenues, compared to 14 percent from its hardware division and 11 percent from its services business.

Overall, Oracle’s services division saw revenues fall by seven percent, yet the company touted the growth of its burgeoning cloud services divisions. The company’s Cloud Software subscriptions grew by 25 percent compared to the previous quarter, while revenue from its Engineered Systems division rose by 30 percent, said Oracle President Safra Katz.

A big area of concern remains Oracle’s hardware division, which achieved total revenues of just $725 million – some way short of analysts original $878 million projection. It’s true that Oracle has struggled on the hardware side since it snapped up Sun Software’s server business, and revenues have stayed flat in recent quarters as the company tries to push customers to its branded servers with Oracle software and middleware.

Unsurprisingly, Oracle CEO Larry Ellison attempted to make light of the disappointing figures, insisting that the company was performing well considering the overall decline in the hardware space.

In other Oracle news, the company yesterday released a new version of its Java Development Kit (JDK). Known as JDK 8, the general availability release provides extra support for the lambda programming language in both multicore and parallel environments, plus new security updates and API integrations.