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
This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com