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Oracle's revenue exceeds estimates with cloud demand

San Francisco

ORACLE Corp's push into cloud computing is picking up momentum, sparking a fourth straight quarter of revenue gains for the software maker.

The company, which set a record closing high on Wednesday for its shares, reported total sales that easily topped analysts' estimates.

Oracle's cloud businesses grew 58 per cent in the fiscal fourth quarter. Meanwhile, new software licences, a measure that's tied to the company's traditional on-premise software offerings, declined 5 per cent compared...

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