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Oracle revenue growth below expectations

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Poston Wed, 11 Jan 2017 8:53 am

The company reported that revenue in the second quarter was affected by the dollar's gains, especially since the American election the adjusted revenue of software maker Oracle was down estimates for the seventh time in the last eight quarters, showing that your transition to cloud computing offerings is taking longer than Wall Street expected.

Oracle, which gets little more than half of your revenue outside the United States, reported that revenue in the second quarter was affected by the dollar's gains, especially since the election, and unexpected currency losses in the currency of Egypt.

While your primary business of selling software licenses continues shrinking, Oracle has strengthened your cloud computing business, recently through the acquisition of NetSuite for 9.3 billion dollars, to compete with more agile rivals like Salesforce.com and Workday.

The recipe for cloud computing and business platforms such as Oracle's services increased 81%, to 878 million dollars, slightly below expectations. The total revenue of the business of cloud computing jumped 62%, exceeding 1 billion dollars in quarterly sales for the first time.

\"Oracle has overtaken now salesforce.com and became the first in sales of SaaS applications in the cloud to customers with more than 1,000 employees,\" said Oracle's Chief Executive, Mark Hurd, in a statement, citing market research firm IDC.

Still, the recipe for Oracle cloud computing accounted for one ninth of the total revenue. Its traditional software business, with higher margins, is still suffering, with revenue falling back more than expected, 19,7%, 1.35 billion dollars. Hardware revenue fell 10% to about 1 billion dollars.

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