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.
The company is planning to double its capital spending on the cloud segment to nearly $4 billion in fiscal 2022 as it benefits from the pandemic with businesses opting for hybrid-work models.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
