Oracle Results Bolstered by Cloud-Computing Growth »

Oracle Corp. stated quarterly gross sales rose 2% because the enterprise software program firm navigates altering buyer spending habits.

Businesses are broadly rushing up their shift to cloud-computing whereas curbing spending on in-office instruments.

The firm on Thursday posted gross sales for the August quarter of $9.37 billion and earnings of 72 cents a share. Wall Street anticipated $9.17 billion in gross sales and earnings of 67 cents a share, in accordance with analysts surveyed by FactSet.

Oracle, finest identified for its in-office database merchandise, has been making an attempt to remake itself after falling behind as many companies embraced cloud-computing, the profitable enterprise the place distributors provide distant {hardware} and software program providers.

The Silicon Valley veteran additionally has turn into a part of the race to accumulate not less than elements of video-sharing app TikTok whose proprietor, Beijing-based ByteDance Ltd., has come beneath U.S. government pressure to sell. A deal would add a marque title to Oracle’s cloud effort because it tries to meet up with market leaders Inc. and Microsoft Corp., which is also vying for TikTok.


Source link

Add Comment

Click here to post a comment