Reported 1 day ago
Oracle's cloud business is thriving, despite the overall decline in about 60% of its operations, as highlighted by analyst Gil Luria. The company's recent earnings report revealed a slight revenue miss for the second fiscal quarter, underscoring the ongoing transition to cloud services. Furthermore, Oracle plans to significantly increase capital expenditures, which will comprise over 25% of its revenue this year. Luria also noted potential challenges for Oracle should the U.S. impose a ban on TikTok, which could negatively affect their business.
Source: YAHOO