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Oracle is shutting down its ad business

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

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. Notable acquisitions include data firms DataLogix, bought in 2014 for $1.2 billion, and brand safety platform Moat, purchased in 2017 for a reported $850 million.

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