Oracle’s revenue growth falls

NEW YORK: Business software maker Oracle Corp’s adjusted revenue missed analysts’ estimates for the seventh time in the last eight quarters, showing that its shift to cloud-based offerings is taking longer than Wall Street expected.
Oracle, which gets little more than half of its revenue from outside the United States, said revenue in the latest second quarter was hurt by the dollar’s gains, especially since the US election, and an unforeseen Egyptian currency exchange loss. As its core business of selling software licenses continues to shrink, Oracle has been beefing up its cloud business, most recently though the $9.3 billion acquisition of NetSuite, to take on rivals such as Workday Inc and Inc. — Reuters