Friday, 24 March, 2023

Oracle is counting on cloud boom to expect a strong return

<p>Oracle Corp expects its significant cloud investments to pay off in the fourth quarter, predicting profit beyond Wall Street estimates. This is because more companies are increasing their spending to support hybrid work and cloud platforms. The company&#39;s solid forecast, revealed on a conference call, lifted its shares from a roughly 6% drop in extended trading, which had been caused by a sluggish Q3 profit due to increasing spending on cloud services.</p>