Fierce Healthcare December 14, 2023
Oracle’s second-quarter revenue fell short of analysts’ expectations, dragged down by its Cerner business and slowing cloud growth.
The software giant’s total revenue for the quarter grew 4%, but would have increased 6% excluding the contribution of the former Cerner, according to the company’s second-quarter financial results. Oracle’s Q2 revenue growth slowed from 9% during its fiscal first quarter.
The company acquired health IT company Cerner in a $28 billion deal in June 2022 to push deeper into the healthcare market and help boost its cloud business.
Oracle’s total revenue came in at $12.9 billion for the quarter that ended Nov. 30. Analysts had expected quarterly revenue of $13.05 billion, CNBC reported.
Total cloud revenue, excluding Cerner, was $4.1 billion,...
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