Oracle Profit Tops Estimates as Cloud Shift Pays Off
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Oracle Corp.’s efforts to push deeper into Web-based cloud computing are paying off, with the software maker reporting fiscal second-quarter profit and sales that surpassed analysts’ estimates.
Profit before certain costs was 69 cents a share in the period that ended Nov. 30 on revenue of $9.6 billion, the company said in a statement today. On average, analysts projected profit of 68 cents and $9.5 billion in sales, according to data compiled by Bloomberg.