Oracle Co-CEO Safra Catz to Visit Israel
Ms. Catz, who is set to arrive for a private visit, will also hold a press conference in two weeks
For daily updates, subscribe to our newsletter by clicking here.Israel-born Ms. Catz, who was appointed to the role in 2014 and previously served as the company’s chief financial officer, will hold a press conference during her visit and also meet with clients of Oracle’s Israeli branch, the spokesman said.
In March, Oracle published third-quarter reports that beat its earnings estimates for the quarter, but weak guidance caused its stock to fall by as much as 11% on NYSE. The company reported that demand for new software licenses fell in the third quarter 1.8% year-to-year, and predicted the sales of its cloud products will rise 19%-23% in the current quarter compared to 32% in the third quarter.The company also took a one-time hit of $6.9 billion due to the recent U.S. tax reform.