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Oracle cloud growth shows promise as company tops estimates

Sales of key cloud products grow 57% to US$583m, compared with sagging revenue in other services

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Ms Catz expects sales of cloud products to grow 57-61 per cent in the current quarter.

San Francisco

ORACLE Corp reported profit that topped estimates and posted strong gains in revenue from cloud-based businesses, signalling that it is making progress in the transition away from traditional software.

Profit, excluding some items, was 64 US cents a share for the...

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