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Oracle revenue, profit beat as cloud business benefits from remote work

  • 📰 ChannelNewsAsia
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Oracle Corp signaled a recovery in client spending as remote work spurred demand for cloud services as well as traditional licensing business, ...

Oracle Corp signaled a recovery in client spending as remote work spurred demand for cloud services as well as traditional licensing business, helping it beat expectations for first-quarter results and sending its shares up 5per cent on Thursday.

The COVID-19 pandemic has led to a rapid shift to remote work with companies looking to extend it till the next year, benefiting cloud companies that support this move.It comes at a time when Oracle has been pushing into the cloud business that helps companies save cost by renting data centers rather than owning them.

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Oracle revenue beats as cloud business benefits from remote workBusiness software maker Oracle Corp beat quarterly revenue expectations on Thursday as more companies signed up for its cloud services and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »