Oracle Projects $65 Billion in Sales by 2026 on Cloud Growth
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Oracle Corp. expects to generate about $65 billion in annual revenue by fiscal year 2026, fueled by its cloud infrastructure and business applications business. Shares gained on the news.
The software giant known for its database technology has worked to expand its cloud infrastructure market share, struggling against Amazon.com Inc. and Microsoft Corp. Executives have said the $28.3 billion acquisition of digital medical records provider Cerner Corp. will build inroads in the health care industry, which has been comparatively slow to adopt cloud technology.