Oracle Corp. projected stagnant revenue in the current quarter, signaling the company may not see a revival of new license sales after clients in the hospitality and retail industries delayed software purchases amid the coronavirus pandemic.
Sales will be in a range of a 1% gain to a 1% decline year-over-year in the period ending in August, Chief Executive Officer Safra Catz said Tuesday in a conference call. The midpoint of no revenue growth matched analysts’ estimates, according to data compiled by Bloomberg. Excluding some items, profit will be 84 cents to 88 cents a share, with the midpoint again in line with analysts’ projections.
