oracle gains on report showing buoyant business software
Last Updated : GMT 19:30:24
Arab Today, arab today
Arab Today, arab today

Oracle gains on report showing buoyant business software

Arab Today, arab today

Arab Today, arab today Oracle gains on report showing buoyant business software

New York - Arabstoday

Oracle Corp. (ORCL) gained in late trading after reporting quarterly profit and new license sales that topped analysts’ predictions, a sign of buoyant demand for programs that help companies organize data and run operations. New software-license sales, a predictor of revenue growth, gained 7 percent to $2.37 billion in the fiscal third quarter, Redwood City, California-based Oracle said yesterday. Analysts had projected 3 percent growth, according to Raimo Lenschow, an analyst at Barclays Capital. Profit excluding certain costs rose to 62 cents a share, topping 56 cents, the average analyst estimate, data compiled by Bloomberg show. “I view this as a high-quality beat, and it certainly should be viewed as a positive catalyst” for Oracle shares, Joel Levington, a managing director at Brookfield Investment Management Inc. in New York, wrote in an e-mail. “The license number was about $100 million better than we expected.” Oracle, the largest maker of database software, followed disappointing results the previous quarter by reorganizing its sales force, closing deals that were delayed and taking advantage of the improving economy, said Lenschow, who is based in New York and rates Oracle overweight. Oracle shares rose to as high as $31.54 in late trading yesterday. They had gained 1.1 percent to $30.10 at the close in New York, climbing 17 percent this year before today. Current-Quarter Outlook Profit this quarter, which ends in May, may also exceed analysts’ predictions. Excluding certain costs, profit will be 76 cents to 81 cents a share, Oracle said on a conference call yesterday. Analysts projected 76 cents. Sales will range from a 2 percent decline to a 2 percent gain, Oracle said. Analysts had predicted a 3 percent increase, to $11.2 billion. “All we’ve really needed to do was focus on our execution and that we did,” co-President and Chief Financial Officer Safra Catz told analysts on the call. “It’s clear by these numbers that Q2 was actually an aberration.” Even as software sales rebounded, hardware sales fell more than analysts predicted as Oracle sacrificed volume for higher margin products. The company bought computer maker Sun Microsystems two years ago and has been emphasizing sales of large systems for data processing at the expense of Sun’s less expensive gear. “Next fiscal year our hardware business should be a growth story,” Chief Executive Officer Larry Ellison told analysts on the call. ‘Work to Do’ Hardware systems sales declined 16 percent to $869 million. Analysts were projecting an 11 percent drop, Lenschow said. “They’ve got some work to do proving themselves to the market with this hardware business,” Josh Olson, an analyst at Edward Jones & Co. in Des Peres, Missouri, said in an interview. Oracle’s database software is used by companies to store information and process customer transactions. Oracle is also the second-largest maker of business applications used to manage financials, operations and human resources, after SAP AG. (SAP) Sales of database and middleware licenses increased 9 percent to $1.72 billion, while license sales of business applications rose 3 percent to $658 million. Oracle has also been making acquisitions to broaden its offerings in cloud computing software delivered over the Web. It agreed last month to buy Taleo Corp. (TLEO), a maker of online human resources software, for $1.9 billion, its second Web software acquisition in less than four months. Oracle acquired RightNow Technologies Inc. for $1.5 billion in January to gain online customer-service software. It’s also announced a service called the Oracle Public Cloud to run Fusion applications in Oracle’s data centers. Ellison’s SAP Remarks Ellison said the company’s database and Java software, as well as human resources, financial management and customer management applications, will be available in cloud-computing versions in the fourth quarter. He also attacked SAP’s plans to position its Hana data- analysis software as an alternative to Oracle’s database. “I don’t believe SAP is equipped to compete with us in the database business,” Ellison said. “This is arguably our core competence.”

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oracle gains on report showing buoyant business software oracle gains on report showing buoyant business software

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

oracle gains on report showing buoyant business software oracle gains on report showing buoyant business software

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Banyan Tree Phuket Takes Festive Season

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Top Democrat faces investigation

GMT 09:50 2017 Friday ,17 November

Top Democrat faces investigation
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Angola oil boss sacked by father's protege

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Urban, young and active?

GMT 11:01 2017 Thursday ,16 November

Urban, young and active?
Arab Today, arab today Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
Arab Today, arab today Unloved vultures fight for their survival

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

GMT 09:23 2017 Wednesday ,15 November

Years melt away as Bening & Bell play unlikely lovers

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 13:40 2017 Monday ,13 November

Pollution spikes in Delhi amid warnings

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 10:55 2017 Thursday ,16 November

UN warns fuel running out

GMT 01:04 2017 Wednesday ,15 November

In Morocco, a blue tourist town

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday