Oracle Corp. saw its’ shares go up the most it has in three months after topping the estimates for cloud-based products. They picked up quite a bit of momentum with corporate clients. Even though the company has gained, the actual sales are about 1% lower compared to last year.
With Oracle trying to shift towards cloud-based products, this is a good sign. The new cloud services are about 8% of the sales for the quarter. This sector of their business also increased from 75% to 80% for the current quarter.