Oracle Corp. projected stagnant revenue in the current quarter, signaling the company may not see a revival of new license sales after clients in the hospitality and retail industries delayed software purchases amid the coronavirus pandemic.
Sales will be in a range of a 1 percent gain to a 1 percent decline year-over-year in the period ending in August, Chief Executive Officer Safra Catz said Tuesday in a conference call. The midpoint of no revenue growth matched analysts’ estimates, according to data compiled by Bloomberg. Excluding some items, profit will be 84 cents to 88 cents a share, with the midpoint again in line with analysts’ projections.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.