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18th December 2018

Oracle shares rise on strong forecast

Oracle

Oracle shares benefited from strong projections relayed by Chief Executive Officer Safra Catz on Monday. Revenue will increase 2 percent to 4 percent in the current quarter, with higher growth in the second quarter.

Though Oracle’s new cloud and on-premise licence sales fell 8.5 percent to $1.22bn, revenues from Oracle’s cloud services and licence support grew 2.7% to $6.64bn. The figures will help ease concerns that Oracle’s transition to a cloud-based company has been slower than expected.

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