Skip to content
Subscriber Only

Oracle Projects Growing Revenue After Years of Cloud Slog

  • Traditional software fees fueled 1.9% quarterly revenue gain
  • Company seeking big cloud customer in stalled TikTok proposal
Updated on

Oracle Corp. gave a better-than-expected forecast for quarterly revenue, in a sign of improving demand for the software giant’s cloud computing technology after years of stagnant sales.

Revenue will climb 2% to 4%, an estimated $10 billion to $10.4 billion, in the period that ends in February, Chief Executive Officer Safra Catz said Thursday in a conference call. Analysts, on average, projected $9.94 billion, according to data compiled by Bloomberg. Such gains would keep Oracle on track to post three consecutive quarters of sales growth after two fiscal years of declining revenue.