Oracle beats quarterly revenue estimates

(Reuters) - Cloud and enterprise software firm Oracle Corp topped Wall Street estimates for fourth-quarter revenue on Monday, with more businesses increasing spending on cloud as they transition to a hybrid work environment.

Revenue for the quarter ended May 31 was $11.84 billion, compared with analysts' average estimate of $11.66 billion, according to IBES data from Refinitiv.

(Reporting by Akash Sriram and Chavi Mehta in Bengaluru; Editing by Vinay Dwivedi)