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Oracle Sales Top Estimates as Push to the Cloud Gains Momentum
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Oracle Sales Top Estimates as Push to the Cloud Gains Momentum
Sales in the current period will be little changed or decline as much as 2 percent from a year earlier, Chief Executive Officer Safra Catz said on a conference call, meaning it could become the fourth consecutive quarter with falling sales. Profit, excluding some expenses, will be $1.05 to $1.09 a share, compared with an average analyst prediction of $1.09, according to data compiled by Bloomberg. Oracle has built up a wide array of internet-based programs in a bid to steal market share from cloud leaders Amazon.com Inc., Microsoft Corp. and Salesforce.com Inc. Yet the company has struggled to persuade corporate customers to replace existing software run from their own computer servers -- especially when it comes to its most lucrative products, such as databases.
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