16.03.2016 - Oracle Corp announced revenue decline
American Oracle Corp reported a decrease in revenue in Q3, against the negative impact of foreign currency changes, which leveled a positive effect from the fast-growing business. The company also announced additional 10 billion dollars for the share repurchases. Proceeds from the cloud services rose to 735 million dollars in the last quarter, which is 40% better than for the same period last year. It is worth mentioning that during the quarter, which ended Feb. 29, the company received 2.14 billion dollars in profits compared to 2.5 billion dollars over the same period last year. Revenue fell to 9.01 billion dollars against 9.33 billion previously. We forecast that the company's shares will increase by 20-25% this year.