Oracle revenue drops to $9.56 billion

Business software maker Oracle said its revenue fell to $9.56 billion from $9.59 billion.
Oracle Cloud for healthcare and retail
Its cloud services and license support business revenue, its biggest, rose 2.7 percent to $6.64 billion, as more companies shifted to cloud computing from the traditional on-premise model to cut costs.

Oracle, a late entrant to the rapidly growing cloud-based software business, has aggressively stepped up its efforts to catch up with rivals such as, Microsoft and, Reuters reported.

The company’s net income rose to $2.33 billion, or 61 cents per share, in the second quarter ended Nov. 30, from $2.21 billion, or 52 cents per share, a year earlier.

Excluding items, the company earned 80 cents per share, beating the average analyst estimate of 78 cents per share.