FILE PHOTO: People gather prior to the start of a keynote speech at the All Things Oracle OpenWorld Summit in San Francisco, California September 24, 2013. REUTERS/Jana Asenbrennerova/File Photo (Reuters) - Business software maker Oracle Corp beat Wall Street estimates for quarterly results on Monday, as it added more clients to its cloud services and license support business, sending its shares up nearly 4 percent in extended trading. Revenue from the unit, its biggest, rose 2.7 percent to $6.64 billion, as more companies shifted to cloud computing from the traditional on-premise model to cut costs. Analysts on average were expecting a revenue of $6.62 billion, according to IBES data from Refinitiv. Oracle, a late entrant to the rapidly growing cloud-based software business, has aggressively stepped up its efforts to catch up with rivals such as Amazon.com Inc, Microsoft Corp and Salesforce.com Inc. The company’s net income rose to $2.33 billion, or 61 cents per share, … [Read more...] about Oracle quarterly results beat on strength in cloud business
Oracle
Oracle quarterly profit rises 5 percent
FILE PHOTO: People gather prior to the start of a keynote speech at the All Things Oracle OpenWorld Summit in San Francisco, California September 24, 2013. REUTERS/Jana Asenbrennerova/File Photo (Reuters) - Business software maker Oracle Corp reported a 5.4 percent rise in quarterly profit on Monday, driven by growth in its cloud services and license support business. The company’s net income rose to $2.33 billion, or 61 cents per share, in the second quarter ended Nov. 30, from $2.21 billion, or 52 cents per share, a year earlier. Total revenue fell to $9.56 billion from $9.59 billion. Reporting by Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur … [Read more...] about Oracle quarterly profit rises 5 percent
Travis Scott (literally) rides a roller coaster in middle of Oracle Arena
Travis Scott performs at the Oracle Arena in Oakland, Calif., on Saturday, Dec. 5, 2015. (Anda Chu/Bay Area News Group) Travis Scott performs at the Oracle Arena in Oakland, Calif., on Saturday, Dec. 5, 2015. (Anda Chu/Bay Area News Group) Travis Scott performs at the Oracle Arena in Oakland, Calif., on Saturday, Dec. 5, 2015. (Anda Chu/Bay Area News Group) Travis Scott performs at the Oracle Arena in Oakland, Calif., on Saturday, Dec. 5, 2015. (Anda Chu/Bay Area News Group) Travis Scott performs at the Oracle Arena in Oakland, Calif., on Saturday, Dec. 5, 2015. (Anda Chu/Bay Area News Group) CHRISTIAN SCOTT/ASSOCIATED PRESS Hip-hop star Travis Scott brings his “Astroworld” tour to Oracle Arena in Oakland Dec. 16. Houston rapper Travis Scott attends a basketball game between the Houston Rockets and Los Angeles Lakers at Staples Center on Oct. 20, 2018 in Los Angeles, California. NOTE TO USER: User expressly acknowledges and agrees that, by … [Read more...] about Travis Scott (literally) rides a roller coaster in middle of Oracle Arena
Oracle’s cloud struggles diminish expectations
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By Jay Greene The Wall Street Journal Mon., Dec. 17, 2018 Oracle Corp. is set to report financial results for its fiscal second quarter after the close of trading Monday. Here is what you need to know: EARNINGS FORECAST: As of Friday, analysts surveyed by S&P Global Market Intelligence expected Oracle to report profit, adjusted for items such as acquisition accounting, of 78 cents a share for the quarter that ended in November. REVENUE FORECAST: Analysts expected adjusted revenue of $9.52 billion (U.S.), down from $9.63 billion a year earlier. The company reported $9.62 billion in unadjusted revenue a year ago. WHAT TO WATCH: —SLIPPING SALES: Oracle’s revenue stalled in the first quarter, growing just 1% as the software giant continued a rocky transition from selling applications customers run on their own servers to services those customers rent in massive data centers operated by Oracle and competitors such as Amazon.com Inc. Revenue from … [Read more...] about Oracle’s cloud struggles diminish expectations
Oracle, Amazon spar over Pentagon cloud-computing contract
By The Washington Post | PUBLISHED: December 16, 2018 at 10:36 am | UPDATED: December 16, 2018 at 10:37 am By Aaron Gregg | The Washington Post Global tech giants Oracle and Amazon have fired off early salvos in what is likely to become a protracted court battle over how the Pentagon should build advanced cloud-computing technology into its operations, the latest turn in a long-running dispute over the one of the biggest military IT procurements in years. In a bid protest filed recently in the U.S. Court of Federal Claims, Oracle argued the Defense Department’s $10 billion cloud-computing contract, known as the Joint Enterprise Defense Infrastructure, or “JEDI” for short, has improperly favored Amazon Web Services, the cloud-computing unit of Amazon.com. Days later, Amazon intervened on the side of the government, making itself a defendant in the case. (Amazon founder Jeff Bezos also owns The Washington Post.) The lawsuit comes just weeks after the Government … [Read more...] about Oracle, Amazon spar over Pentagon cloud-computing contract