Economy

Oracle say no to 2021 America's Cup

Oracle say no to 2021 America's Cup”

Excluding one-time items, Oracle earned $2.7 billion, or 62 cents a share.

Cloud revenue for the three-month period was up a substantial 51 percent year over year, according to the balance sheet distributed by the company. Total on-premise revenue was nearly flat at $5.9 billion, and revenue for new software licenses was down 6 percent to $966 million. Co-Chief Executive Safra Catz said Oracle expects adjusted profit of 64 cents to 68 cents a share in the fiscal second quarter, with year-over-year revenue growth of 2% to 4%, all in constant currency.

By that measure, Oracle topped the forecasts of Wall Street analysts, who expected the company to earn 60 cents a share on $9.03 billion in revenue. The quarter marked the first time Oracle reported more sales from its cloud offerings than new software licenses, which fell by 6 percent from last year's first quarter, to $966 million.

Oracle have made no official commitment to the 2021 America's Cup as of yet.

In the cloud platform-as-a-service and software-as-a-service markets, Oracle trails such established providers as Amazon (AWS), Microsoft (Azure) and Alphabet (Google Cloud).

Meanwhile, Oracle founder and chairman Larry Ellison teased the release of "the world's first fully autonomous database cloud service", which Oracle will likely announce during its upcoming Open World conference.

"Based on machine learning, the latest version of Oracle is a totally automated 'self-driving"'system that does not require human beings to manage or tune the database", Ellison said.

Oracle has been working on this blockchain cloud project for a long while.



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