Oracle also alarmed investors with its cloud revenue for the fiscal third quarter, which rose 32% to $1.57 billion. The business-software giant Monday reported total cloud sales grew 32% in the quarter, roughly what the company said it would be three months ago. Revenue rose 6% to $9.77 billion, while adjusted revenue climbed 5% to $9.78 billion. While growth in Oracle’s overall cloud business has decelerated, it still grew faster than the declines in its legacy software business. The cloud business grew $377 million year-over-year while Oracle’s new software-license revenue fell $26 million.

Source: Wall Street Journal March 19, 2018 20:45 UTC