FILE PHOTO: The Oracle logo is shown on an office building in Irvine, California, U.S. June 28, 2018.
REUTERS/Mike Blake(Reuters) -Oracle Corp on Tuesday forecast current-quarter profit below Wall Street estimates, as the business software maker ramps up investments in its cloud computing business to take on rivals including Microsoft and Amazon.com.
Increased investment in cloud, however, led Oracle to forecast first-quarter earnings per share of 94 cents to 98 cents, below expectations of $1.03, sending its shares down 4.5% in extended trading.
Investors and analysts though still see the 45-year-old company as a niche player when compared to giants such as Alphabet Inc’s Google, Microsoft and Amazon.
The company posted adjusted profit of $1.54 per share on revenue of $11.23 billion in the fourth quarter ended May 31, compared with estimates of a profit of $1.31 and revenue of $11.04 billion.
Mike Blake, ”, Scott Kressler, Oracle
REUTERS, Oracle Corp, Wall, Microsoft, Oracle, Video Communications, Investors
Irvine , California, U.S, “