The US ban on Chinese social media company TikTok is expected to impact Oracle’s revenue and profits. Oracle stated in a filing with the US Securities and Exchange Commission that the ban will make it illegal to provide Internet hosting services to TikTok within the US, potentially leading to a negative impact on their financials … Read more
Software company Oracle is concerned that a potential ban on TikTok in the United States could negatively impact its finances. Congress passed a bill that would require TikTok’s parent company, ByteDance, to sell the app within 12 months or face an outright ban. Oracle provides cloud infrastructure support for TikTok and warned investors that if … Read more
Oracle Corp. has alerted investors to the potential financial impact of a US ban on TikTok. The company faces challenges due to a new law signed by President Biden that could make providing internet hosting services to TikTok illegal unless certain conditions are met by its Chinese owners. This could result in a loss of … Read more