Business

Oracle quarterly revenue beats estimates on cloud boost

Oracle Corp beat Wall Street estimates for fourth-quarter revenue on Tuesday, helped by its cloud product and software licensing sales as people worked remotely.

FILE PHOTO: The Oracle logo is shown on an office building in Irvine, California
FILE PHOTO: The Oracle logo is shown on an office building in Irvine, California, U.S. June 28, 2018. REUTERS/Mike Blake

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REUTERS: Oracle Corp beat Wall Street estimates for fourth-quarter revenue on Tuesday, helped by its cloud product and software licensing sales as people worked remotely.

Total revenue rose 8per cent to US$11.23 billion in the quarter ended May 31. Analysts were expecting revenue of US$11.04 billion, according to IBES data from Refinitiv.

(Reporting by Eva Mathews in Bengaluru; Editing by Vinay Dwivedi)

Source: Reuters