Oracle misses quarterly revenue estimates

By Thomson Reuters Jun 11, 2024 | 3:10 PM

(Reuters) – Oracle missed Wall Street expectations for fourth-quarter revenue on Tuesday, hurt by weaker client spending on its cloud services amid stiff competition and an uncertain economy.

The company reported revenue of $14.29 billion for the quarter, compared with analysts’ average estimate of $14.55 billion, according to LSEG data.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi Majumdar)