Oracle Corp.’s share price down, profit and sales miss analysts’ estimates amid transition to cloud-computing services
Grazed from BinaryTribune. Author: Editorial Staff.
Oracle Corp. made an official statement yesterday, posting its profit and sales for the fourth quarter of the financial year that missed analysts’ forecasts. The announcement comes at a moment when the company is trying to shift its focus to providing primarily cloud-computing services and become a worthy rival of companies such as Salesforce.com Inc.
The Co-president and Chief Financial Officer of Oracle – Ms. Safra Catz said on a conference calL yesterday, cited by Bloomberg: “We’ve successfully grown the company’s revenues and earnings through every transition, whether it was many computer databases to a complete suite of products, client-server Internet, hardware engineered systems and now on-premise cloud.” Ms. Catz also added: “We are well under way with our most recent transition.”…

