Oracle has revealed in its recent quarterly earnings report that the company has closed its advertising business, impacting the annual revenue by approximately $300 million. Previously, the advertising business brought in around $2 billion for Oracle in 2022.
Over the past decade, Oracle has expanded its advertising services business and acquired related ventures to bolster its portfolio. One notable acquisition was Datalogix in 2014, with a deal worth approximately $1.2 billion.
The advertising segment of Oracle has faced several challenges in recent times, notably when Meta shut down its 3rd Party advertising platform, affecting Oracle in 2018. This move was a response to the Cambridge Analytica scandal.
Source: AdWeek
TLDR: Oracle closes advertising business, impacting revenue. Expanded advertising services over the years and acquired ventures. Challenges faced with Meta shutting down 3rd Party advertising platform in response to Cambridge Analytica scandal.
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