Thursday, July 15, 2004

WSJ.com - Oracle Chief Doesn't See Slowdown

WSJ.com - Oracle Chief Doesn't See Slowdown "Oracle Corp. Chief Executive Larry Ellison said his company hasn't seen the business slowdown cited by other software makers. "We don't see our business weakening," he told a gathering of Wall Street analysts at Oracle's headquarters in Redwood Shores, Calif. Oracle reported generally strong results in the quarter ended May 31. In the current quarter, which ends in August, "We started off very well," Oracle Chairman Jeff Henley said. Mr. Henley said Oracle still expects earnings of nine cents a share on a 6%-to-9% increase in quarterly revenue. Mr. Ellison said the flurry of earnings shortfalls in the June quarter from software companies is evidence of a gathering shakeout of the industry's weaker players. He said Oracle, along with Microsoft Corp., International Business Machines Corp. and SAP AG of Germany, will collect a disproportionate share of the industry's revenue and profits because of their broad product lines."

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