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Oracle Investors Breathe a Sigh of Relief on Rising Sales

  • Company shows strong demand for apps in transition to cloud
  • Hardware revenue declines 11% in ‘downsize’ of legacy unit
Key Speakers At The Oracle OpenWorld 2017 Conference
Photographer: David Paul Morris/Bloomberg
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Oracle Corp.’s shares climbed after the world’s second-largest software maker returned to sales growth and gave a forecast indicating the momentum may continue. For investors, the results were a reprieve amid the company’s uneven transition to cloud-based computing.

Revenue increased 1.1% to $11.1 billion in the period ended May 31 from a year earlier, the Redwood City, California-based company said Wednesday in a statement. Analysts, on average, projected $10.9 billion, according to data compiled by Bloomberg. Oracle said sales will grow as much as 2% in the current period.