Oracle (ORCL, Financial) continues to make progress as it seeks to reinvent itself for the cloud-computing environment that prevails today and compete in what we believe is a huge addressable market in the public cloud. In the meantime, the company has been a strong cash flow generator and has a consistent decade-long history of returning excess cash to shareholders in the form of dividends, and it has devoted billions of dollars to repurchasing its shares.
From First Eagle Investment (Trades, Portfolio)'s Global Value Team first-quarter 2021 commentary.
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