Oracle Revenue Falls Short of Expectations as Cloud Competition Rises

Oracle Revenue Falls Short of Expectations as Cloud Competition Rises
The Oracle logo is shown on an office building in Irvine, Calif., on June 28, 2018. Mike Blake/Reuters
Reuters
Updated:

Enterprise software firm Oracle Corp. fell short of Wall Street expectations for first-quarter revenue on Monday, hurt by competition in the cloud computing space.

Shares of the Austin, Texas-based company pared losses and were down 1.4 percent in extended trading after the company forecast second quarter adjusted earnings per share above expectations.