Software giant Oracle shared that it is shutting down its ads business during its earnings call last night for the quarter ending March 31, as revenue declined to $300 million in the 2024 fiscal year.
“In Q4, we decided to exit the advertising business, which had declined to about $300 million in revenue in fiscal year ’24,” CEO Safra Catz told analysts, according to an earnings transcript.
In August 2022, Business Insider reported that Oracle Advertising made $2 billion in revenue.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in
