Oracle Corp narrowly missed quarterly revenue estimates on Thursday, but the company remained bullish on demand for its cloud software following the recent acquisition of electronic medical records firm Cerner.
Oracle earned $1.22 per share on revenue of $12.39 billion in the quarter ended Feb. 28, while analysts were expecting a profit of $1.20 per share on revenue of $12.42 billion, according to Refinitiv data.The company forecast fourth-quarter revenue to grow between 15% and 17%, compared with analysts' estimate of 16.2%.
Oracle also expects adjusted profit per share in the range of $1.56 to $1.60, above market expectations of $1.46.
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