Oracle Keeps Growing in the Time of Corona
In times of the coronavirus pandemic, SAP cuts its annual targets twice. But in the US competitor Oracle, however, things are going better. In the past quarter, the software company has seen an increase in sales.
Cloud is the keyword
Strong demand for cloud services during the Corona crisis brought Oracle a slight increase in sales of the past quarter. Revenues climbed in the second fiscal quarter at the end of November by two percent to 9.8 billion dollars, as announced by the SAP competitor. The trend towards home office during the Corona crisis is increasing the need worldwide for software that is available in the data cloud and can therefore be used flexibly. Microsoft and Amazon have recently benefited from this. The Walldorf-based SAP group, on the other hand, cut its annual forecast for the second time in October due to the corona crisis and the idle travel business.
In addition to corporate software, Oracle also relies on data center business. New ones would be opened as soon as possible, said company founder, chairman and chief technology officer Larry Ellison, a total of 29 data centers are now owned by Oracle, more than Amazon’s cloud subsidiary AWS operates. Operating profit climbed 13 percent to $ 3.6 billion from September through November.
It is still unclear how the negotiations with the Chinese technology group Bytedance about a stake in the US video platform Tiktok are going. They have been going on for months. Bytedance is to sell Tiktok’s US business and is therefore talking to Walmart and Oracle. US President Donald Trump accuses the group that the data of around 100 million US users could be misused for espionage by the Chinese leadership.
Oracle Keeps Growing in the Time of Corona
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