Oracles vinst fortsätter minska
Oracle Corp’s sales fell more than expected in the first quarter, hurt by a strong dollar and a continued drop in licensed software sales and the company warned revenue could fall in the current quarter even on a constant currency basis.
Like its rivals such as SAP, IBM Corp and Microsoft Corp, Oracle is striving to boost Internet-based software sales to head off fast-growing competitors such as Salesforce.com Inc.
But, analysts have said Oracle’s cloud software business has not been growing fast enough to make up for declines in the 38-year-old company’s licensed software business due to reasons ranging from slow customer adoption to tough competition.
Oracle’s revenue declined 1.7 percent to $8.45 billion in the quarter ended Aug. 31, missing analysts estimates for the third quarter in a row.