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Oracle reported a 2% rise in Q2 revenue as the company enjoys high cloud demand during a pandemic-driven shift to remote work

Oracle reported a 2% rise in Q2 revenue as the company enjoys high cloud demand during a pandemic-driven shift to remote work

Oracle reported quarterly revenue in line with Wall Street estimates on Thursday, as remote work trends boosted cloud product and software licensing sales.Total revenue rose 2% year-over-year to $9.8 billion in the second quarter ended November 30. Analysts were expecting revenue of $9.79 billion, according to IBES data from Refinitiv.Revenue from cloud services and license support rose 4% to $7.1 billion."Our highly profitable multi-billion dollar Fusion and NetSuite Cloud ERP applications businesses grew revenue 33% and 21% respectively in Q2," Oracle CEO Safra Catz said in a "These two...

December 10, 2020
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