Reported 2 days ago
Oracle Corp. reported a quarterly revenue growth of 9%, aligned with estimates, but fell short of investors' lofty expectations, leading to a sharp stock decline of about 8.5% in premarket trading. While the company's cloud infrastructure sales grew 52%, total cloud revenue of $5.9 billion missed analyst projections, raising concerns about the future amidst heightened competition in the cloud services market.
Source: YAHOO