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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Oracle revenue falls short as cloud competition rises

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1065a1863824c185b8e392b8b8204fed

Enterprise software firm Oracle Corp fell short of Wall Street expectations for first-quarter revenue, hurt by competition in the cloud computing space.


Shares of the Austin, Texas-based company pared losses and were down 1.4 per cent in extended trading after the company forecast second quarter adjusted earnings per share above expectations.


The company expects adjusted earnings per share to be between $1.09 and $1.13, above analysts’ average estimate of $1.08, according to IBES data from Refinitiv.


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