HomeOracle News – Noel Randewich, Carlos Slim, United States, Brendan BarnicleBusinessOracle News – Noel Randewich, Carlos Slim, United States, Brendan Barnicle

Oracle News – Noel Randewich, Carlos Slim, United States, Brendan Barnicle

Wall Street questions Oracle’s strategy after weak Q3 sales
By Noel Randewich SAN FRANCISCO (Reuters) – Oracle’s severe miss in quarterly sales, dismissed by management as a blip, amplified questions on Wall Street about the business-software giant’s diminishing clout in an industry moving rapidly toward cheaper Internet-based rivals. Senior management assured Wall Street on Wednesday that a worrying 2-percent slip in new software sales was mostly due to a sales force that lacked “urgency”, something to be addressed this quarter. Many analysts agreed, describing the decline in software and hardware revenues as a speed bump. …

Oracle’s Larry Ellison Loses More Than $3 Billion In A Day
Oracle announced disappointing results on Wednesday just after the markets closed. The software giant announced that its fiscal 2013 Q3 sales were down 1% to $9 billion and new software licenses and cloud software subscriptions revenues were off 2% to $2.3 billion. While the strengthening of the US dollar played a role, the bigger problem seemed to be largely one of execution. The company, which has added 400,000 people to the Oracle sales force in the last 18 months, said new sales reps had run out of time.

Weak Oracle sales, Cyprus fears weigh on US shares
Stocks fell on Wall Street Thursday as Oracle’s weak sales results weighed down big U.S. technology companies. Traders worried about Cyprus running out of time to avoid bankruptcy.

Oracle Earnings Miss as Hardware Revenue Sinks
Oracle reported lower-than-expected quarterly earnings and revenue on Wednesday, with misses on new software sales and cloud-based subscriptions. The company’s shares tumbled in extended-hours trading.



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