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Oracle's quarterly profit exceeds expectations

In the second quarter of 2018 financial year, one of the world's largest software manufacturers - the U.S.-based Oracle Corp. - increased net profit by almost 10%.

However, cloud services revenue disappointed the investors, as a result of which Oracle shares fell by almost 7%.

For the three months ended Nov. 30, Oracle's net profit rose to $2.23 billion, or $0.52 per share. Adjusted revenue increased by 6.2% and reached $9.63 billion.

Oracle engaged in cloud services later than companies such as Amazon.com and Microsoft, but during this year, actively catching up: in particular, Oracle made a deal in this segment with AT&T and Bank of America.



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