Oracle says US ban of TikTok would hurt its profits

Software giant Oracle warned investors that a US ban of TikTok will likely damage its bottom line if it takes effect. In April, Congress passed a bill that would require TikTok's Beijing-based parent ByteDance to divest from the app entirely within 12 months or face a total US ban. Oracle, co-founded and chaired by billionaire tech executive Larry Ellison, said the law "will make it unlawful to provide internet hosting services to TikTok," Oracle said in its annual report published Monday. 4 Congress passed a law requiring TikTok to be sold within 12 months or face a total ban. AP…