Oracle's Sales Slump Continues, Prompting Downgrade and Stock Slide

Oracle reported slowing sales growth in its cloud computing business, causing investor concerns about its ability to compete in the market. Cloud revenue rose 25% in the quarter, marking the second consecutive quarter of slowing growth. The company is focused on expanding its cloud infrastructure business to compete with Amazon, Microsoft, and Google. While Oracle executives remain optimistic about the business, investors are waiting to see improvement. The availability of graphics processors used in data centers will also impact future gains. Oracle's shares fell about 8% in extended trading following the announcement.