Oracle misses second-quarter revenue estimates
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Oracle missed Wall Street expectations for second-quarter revenue due to reduced spending on its database and cloud services, as enterprise clients cut budgets amid economic uncertainty.
December 09, 2024 | 9:30 pm
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Oracle's second-quarter revenue fell short of Wall Street expectations due to decreased spending on its database and cloud services, as enterprise clients reduce budgets in response to economic uncertainty.
Oracle's revenue miss is directly linked to reduced spending by enterprise clients on its key services, which is a significant concern for investors. The economic uncertainty leading to budget cuts further exacerbates the situation, likely impacting Oracle's stock negatively in the short term.
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