EHR Intelligence September 12, 2023
As the technology vendor moves Cerner EHR clients to cloud subscriptions, Safra Catz, Oracle CEO, warned of near-term weakness in revenue growth.
Oracle shares fell over 10 percent on Tuesday after the tech giant’s weak revenue forecast, in part due to its Cerner EHR business, according to reporting from Reuters.
Oracle stock has risen around 50 percent this year due to optimism that the rise in generative AI would boost cloud demand.
However, lower-than-expected revenue for the first quarter and a below-estimate prediction for the second suggest that the potential boost from generative AI could take longer to come to fruition.
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