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Oracle Is Shutting Down Its Ad Business  

The business generated $300 million in revenue in the 2024 fiscal
year, down from a reported $2 billion in 2022

[oracle-tech-2021-652x342] Oracle spent billions on entering the
advertising business, acquiring nearly a dozen ad technology
companies for over a decade.Oracle
catherine-perloff-2021
By Catherine Perloff

 

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.

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catherine-perloff-2021

Catherine Perloff

  * @catherineperlo1
  * catherine.perloff@adweek.com

Catherine is an Adweek staff reporter covering ad tech and platforms.

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