Oracle Sales Top Analysts’ Estimates on Cloud Service Demand
- Company gives broad sales forecast on virus ‘uncertainty’
- Software maker announces $15 billion share buyback program
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Oracle Corp. topped analysts’ estimates for quarterly sales, signaling that demand for the company’s cloud services is holding up in the face of an economic slowdown caused by the coronavirus outbreak.
The company also announced a $15 billion share buyback program. Shares jumped about 4% in extended trading.