• Bloomberg

  • SHARE

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.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)