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Oracle Team USA needs to win next six races to retain America's Cup trophy

By IVCPOST Staff Reporter | Sep 21, 2013 11:26 AM EDT
This Reuters photo shows the company logo at Oracle's headquarters in California. (Photo : Reuters)

Oracle Team USA would need to win the next six races to get the America's Cup trophy. The team beat Emirates Team New Zealand yesterday to stay in the running for the 162-year old regatta. Team USA trailed behind the New Zealand team 8-3. The America's Cup is a best-of-17 series. The sailing events were slated to resume today. The New Zealand Team, meanwhile, would only need to clinch one victory to be declared America's Cup champions.

Funded by Oracle Chief Executive Officer Larry Ellison, Oracle Team USA is the defending champion of the America's Cup.

Meanwhile, Oracle Corp's second quarter sales and profit did not reach expectations. The third largest software manufacturer continued to battle declining IT demand and increased competitions in the software market.

For the third quarter, Oracle said its growth revenue would be between 1% to 4%. This translated to USD 9.02 billion to USD 9.29 billion-a far cry from the USD 9.41 billion figure given by Wall Street.

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