
Oracle secured three new cloud businesses
Busy day for the computer tech corporation Oracle. The American company reported its figures for the fiscal first quarter.
The quarterly results beat analysts’ expectations. Oracle had #earnings per share of 93 cents on revenue of $9.37 billion. The consensus was of 86 cents EPS and $9.17 billion in revenue.
Revenues from license support and cloud services increased by 2% to $6.9 billion.
Moreover, Oracle announced on Thursday three new deals with McDonald’s, Albertson’s, and Humana. According to the company's statement, McDonald’s will move its US financial system to its #cloud. Albertson’s and Humana will move various applications to Oracle’s services.
The new deals are part of Oracle’s plan to catch up with its larger cloud services providers peers like Amazon and Microsoft. The Californian company managed to expand its business earlier this year by securing a deal with Zoom and with data centers in various countries.
Since the beginning of the year, Oracle stock price gained 7%, while USA500 added 3.28%.
Sources: reuters.com, investing.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.