Oracle sales top estimates as cloud push gains momentum [Business News Network (BNN) Energy & Resources (Canada)]
Oracle Corporation (ORCL)
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Source: Business News Network
Oracle sales top estimates as cloud push gains momentum Oracle Corp., the world’s second-largest software maker, reported third-quarter sales that slightly topped projections, signaling that the company may be gaining momentum in its transition to cloud-based computing. Revenue in the period ended Feb. 28 was US$9.61 billion, the Redwood City, California-based company said Thursday in a statement. Analysts had predicted US$9.59 billion, the average of estimates compiled by Bloomberg. Profit, excluding some expenses, was 87 cents a share, compared with estimates of 84 cents. Oracle ( ORCL.N ) has built up a wide array of internet-based programs in a bid to steal market share from cloud leaders Amazon.com Inc., Microsoft Corp. and Salesforce.com Inc. Yet the company has struggled to persuade corporate customers to replace existing software run from their own computer servers -- especially when it comes to its most lucrative products, such as databases. To compensate for the slow progres
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