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Oracle Reports Sales That Meet Estimates, Touts Cerner Deal

  • Business software applications show continued strong growth
  • Medical records unit produces top sales quarter, CEO Catz says
The Oracle Corp. logo outside the company's offices in Hyderabad, India.

The Oracle Corp. logo outside the company's offices in Hyderabad, India.

Photographer: Dhiraj Singh/Bloomberg
Updated on

Oracle Corp.’s quarterly sales jumped 18%, buoyed by the software maker’s transition to cloud computing and the acquisition of health records provider Cerner.

Sales were $11.4 billion in the fiscal first quarter, meeting analysts’ average estimate, according to data compiled by Bloomberg. Profit, excluding some items, was $1.03 a share. Oracle said currency fluctuations reduced the earnings by 8 cents a share. Analysts projected $1.06 a share.