What Investors Need to Know About Oracle's Cloud Slowdown
The market didn't respond well to 's (NYSE: ORCL) report for the fiscal second quarter, which ended on Nov. 30. The database and software giant missed analyst expectations for revenue, reporting growth of just 5%.
Software license revenue tumbled 18%, hardware revenue dropped 11%, and services revenue slipped 2%. The cloud services and license support segment, the largest by far, grew sales by 12%.
Overall cloud revenue, which includes infrastructure-as-a-service (Iaas) and software-as-a-service (Saas), expanded by 25%. That compares to 30% growth in the first fiscal quarter. IaaS and SaaS revenue rose 52% and 15%, respectively, down from 66% and 17% growth in the previous quarter.
Source Fool.com
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