Oracle Cloud Business Making Progress, But Strong Dollar Hits Its Profit

-Oracle Cloud Business Making Progress, But Strong Dollar Hits Its Profit

Oracle Corp, the Redwood Shores, California-based company said in a statement Wednesday that its cloud business is making progress, but its investors need to stay calm till the time there’s a return to revenue growth.

According to data compiled by Bloomberg, revenue of the company fell around 6.3% to $8.99 billion from a year earlier, as compared with analysts’ estimate of $9.06 billion. This is the 10th quarter in the past 12 when the company has failed to meet analysts’ expectations.

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