Oracle posts upbeat quarterly revenue

For the third quarter, Oracle forecast revenue to rise between 21% and 23% in constant currency, while analysts expect growth of about 17.4%. — Reuters

NEW YORK: Oracle Corp posted better-than-expected revenue in the second quarter, benefiting from strong demand for its cloud software services and the acquisition of electronic medical records firm Cerner.

Oracle has been pushing aggressively into the cloud computing market to make up for its late start and better compete with larger rivals Microsoft and Amazon.com’s cloud offerings.