Oracle Slips on Disappointing Forecast as Cloud Woes Persist

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Oracle Corp.’s shares fell after the company gave a disappointing fourth-quarter revenue and profit forecast, another setback in the software maker’s push to become a significant player in cloud computing.

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Hello,

Oracle has built up a wide array of internet-based programs in a bid to steal market share from cloud leaders Amazon.com Inc., Microsoft Corp., and Salesforce.com Inc. Yet the company has struggled to persuade corporate customers to replace existing software run from their own computer servers -- especially when it comes to its most lucrative products, such as databases. To compensate for the slow progress, Chief Executive Officer Mark Hurd, who shares the role with Catz, has set a goal of reaching a 50 percent market share in internet-based applications. The result has been a teetering journey to the cloud that may stall in the current period.

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Anita
 
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