(Bloomberg) -- Oracle Corp.’s push into the cloud is making progress, but investors will need to be patient before there’s a return to revenue growth.
While the cloud-based business posted a sales increase of 26 percent, the other key units reported declines in the fiscal second quarter ended Nov. 30, the Redwood Shores, California- based company said in a statement Wednesday. Total revenue fell 6.3 percent to $8.99 billion from a year earlier, compared with analysts’ average estimate of $9.06 billion, according to data compiled by Bloomberg. It marked the 10th quarter in the past 12 that the company missed analysts’ sales expectations.
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