Oracle’s Push Into Cloud Gathers More Momentum on Sales Growth
Oracle Results Show Push Into Cloud Gathering Steam
This article is for subscribers only.
Oracle Corp.’s streak of revenue gains continued for a fifth straight quarter, buoyed by corporate demand for cloud-based software.
Adjusted sales rose 7 percent to $9.21 billion in the fiscal first quarter, exceeding analysts’ estimates, as sales of cloud-based products continued to make up a bigger portion of the total. Profit also topped average projections, helped by holding down growth in operating expenses.