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Oracle says COVID-19 could affect its 'largest revenue quarter' - Business Insider

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Oracle is launching a new bond offering, even as it warns investors that COVID-19 could have an impact on its 'largest revenue quarter'

Oracle said it is monitoring the impact of the coronavirus crisis which the tech giant could have an impact on its "largest revenue quarter."

Oracle shared the insight in a Monday filing with the US Securities and Exchange Commission, a preliminary prospectus supplement for a new bond offering which is expected to be completed this week. Oracle's fiscal fourth quarter, which began in March, is typically the tech giant's stronger quarter when it records a big chunk of its revenue. The company reported results for its fiscal third quarter three weeks ago whensaid the impact of the crisis was unknown and that Oracle was "largely conducting business as usual."

Many enterprise tech companies are expected to have a hard time signing up new customers and closing deals, which typically involve in-person meetings, because of the lockdown in many key markets. The overall uncertainty in the global economy is also expected to lead to a drop in demand.

 

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