Business and Finance Business and Finance
Tue, December 10, 2024
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Oracle cloud business is growing, while other units decline: Analyst

Oracle cloud business is growing, while other units decline: Analyst


Published on 2024-12-10 12:20:53 - Yahoo Finance
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  • Oracle (ORCL) shares continue to slide Tuesday morning after reporting a slight miss on its fiscal second quarter revenue
  • $14.06 billion vs. expectations of $14.12 billion
  • and adjusted earnings estimates
  • $1.

The video from Yahoo Finance discusses Oracle's recent performance, highlighting that while the company's overall revenue growth has been somewhat sluggish, its cloud business is experiencing significant growth. Oracle's cloud infrastructure and applications are gaining traction, with the company reporting a 38% increase in cloud revenue year-over-year. This growth is attributed to Oracle's strategic focus on cloud services, including autonomous databases and cloud applications like ERP and HCM. Despite challenges in other segments like hardware, Oracle's CEO Safra Catz expressed optimism about the future, emphasizing the company's shift towards becoming a cloud-first enterprise. The video also touches on Oracle's efforts to expand its cloud footprint globally and its competitive positioning against other cloud giants like AWS, Microsoft Azure, and Google Cloud.

Read the Full YAHOO!Finance Article at:
[ https://finance.yahoo.com/video/oracle-cloud-business-growing-while-161000925.html ]

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