Analytics Oracle Advertising is being shut down, CEO Safra Catz said during the database Goliath's 2024 Q4 earnings call with Wall Street this week.
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"…in the fourth quarter, we decided to exit the advertising business, which had declined to approximately $300 million in revenue in fiscal 2024," said Catz.
That's down from a reported $2 billion in 2022.
Investors seem undaunted, as Oracle's stock has soared in recent days. The announcement of deals with Google Cloud, Microsoft Azure and OpenAI have overshadowed the revenue miss and the ad business exit.
