Oracle rises on strong quarterly forecast driven by licenses, cloud services

By Sayanti Chakraborty (Reuters) - Oracle Corp on Wednesday forecast current-quarter profit above estimates, as the business software maker benefited from demand for its on-premise IT, cloud services and license support businesses, sending its shares up as much as 7% in extended trading. The company said, assuming currency headwind, it expected first-quarter adjusted profit to be between 80 cents and 82 cents per share. Analysts were expecting 80 cents, according to IBES data from Refinitiv.

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