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revenue flat, cloud progress vaunted

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Oracle has introduced first quarter 2019-20 revenue of $9.2 billion, barely larger in US greenback phrases compared to the first quarter of last year, however basically flat, lacking its goal by $70m.

At the identical time because the outcomes had been introduced, it was reported that co-chief govt Mark Hurd is taking a depart of absence from the corporate for well being causes. The provider’s founder, Larry Ellison, said that he and co-chief govt Safra Catz will cowl Hurd’s duties – that are largely cloud applications-related – throughout his absence.

In a memo to workers, Hurd stated: “Larry, Safra and I have worked together as a strong team, and I have great confidence that they and the entire executive team will do a terrific job executing the exciting plans we will showcase at the upcoming [Oracle] OpenWorld.”

Oracle co-CEO, Safra Catz stated, in a statement on the results: “As our low margin {hardware} companies proceed to get smaller, whereas our larger margin cloud enterprise continues to get larger, we count on Oracle’s working margins, earnings per share and free money stream all to develop. We’re off to a great begin in FY20, and we count on this to be our third consecutive 12 months of double-digit non-GAAP earnings per share progress.”

Hurd stated: “Our cloud ERP companies, together with each Fusion ERP and NetSuite ERP, grew 33% in Q1. We now have greater than 6,500 Fusion ERP clients and greater than 18,000 NetSuite ERP clients. This continued robust progress has solidified our primary market chief place in cloud ERP worldwide, and our primary place within the total functions enterprise in North America.”

Oracle CTO and founder, Larry Ellison, stated: “Next week at our OpenWorld conference [in San Francisco], we are going to announce extra Autonomous Cloud Services to enrich the Oracle Autonomous Database. The Autonomous Database is probably the most profitable new product in Oracle’s historical past. We added greater than 500 new Autonomous Database cloud clients in Q1, and we count on to greater than double that in Q2.”

The provider doesn’t report cloud numbers individually, and attracted financial analyst criticism for that last year. For the primary quarter of monetary 12 months 2020, it reported, once more mixing the numbers: “Cloud services and license support revenues were $6.8bn, while cloud licence and on-premise licence revenues were $812m”.

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