Reuters
Oracle revenue falls short of expectations as cloud competition rises
Shares of the Austin, Texas-based company pared losses and were down 1.4% in extended trading after the company forecast second quarter adjusted earnings per share above expectations. The company expects adjusted earnings per share to be between $1.09 and $1.13, above analysts’ average estimate of $1.08, according to IBES data from Refinitiv. Analysts say Oracle, whose shares have risen about 40% this year, is well positioned to benefit from cloud computing but a crowded space of rivals, including Microsoft Corp’s Azure, Amazon.com Inc’s Amazon Web Services, Salesforce.com and IBM Corp, will keep the heat on the company.
