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Oracle Reports Sales That Miss Estimates on Slow Cloud Effort
Oracle reported fiscal first quarter sales that fell short of analysts' estimates
• Its efforts to make software sold as cloud services central to its business appear to continue stumbling, Bloomberg News reported
• Cloud services and license support revenue gained 3.2 percent, but maintenance fees for on-prem software are likely responsible for a large portion of the total
• Cloud license and on-premises license sales declined 3 percent to $867 million |