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MarketWatch First Take: Oracle outlook raises concerns about growth

Some Oracle Corp. investors got one big milestone they were anticipating in the company’s cloud transition on Thursday, but they also got a signal that its future growth rate, at least for the next quarter, may not be as strong as they hoped.

Earlier, Oracle ORCL, -0.02% Co-Chief Executive Safra Catz told analysts on a conference call that the software giant expects revenue in the fiscal second quarter to grow in a range of 2% to 4%, on a constant currency basis, compared with analysts’ consensus of 4.7% growth. The company did achieve one big milestone analysts had hoped for: New licenses for its on-premises software fell below $1 billion to $966 million, while cloud revenue increased to $1.5 billion.

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