Ellison Plans for Oracle To Beat Salesforce in Cloud This Year
March 19, 2015
Grazed from TopTechNews. Author: Jeremy C. Owens.
Oracle’s sales came in lighter than analysts expected in Tuesday’s earnings report, but the Redwood City software Relevant Products/Services giant showed off continuing gains in cloud Relevant Products/Services software, and founder Larry Ellison predicted stronger cloud sales than industry leader Salesforce this year.
Oracle earned $2.5 billion, or 56 cents a share, on sales of $9.3 billion; after adjusting for certain one-time expenses, Oracle claimed profits of 68 cents a share. Analysts surveyed by Thomson Reuters expected Oracle to report adjusted earnings of 68 cents a share on $9.46 billion in revenues…
Oracle took pains to point out that the company would have experienced much stronger gains if the dollar had not strengthened so much versus foreign currencies in the past year, providing all results with and without the fluctuations in exchange rates, a gushing flood of numbers. For instance, while revenues were flat year-over-year, the company said consistent exchange rates would have resulted in 6 percent growth, and a profit decline of 1 percent would have been 9 percent higher instead…
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