Oracle Falls on Q4 Earnings Miss, Blames Currency Effects Again | Re/code

An increasingly cloudy future for Oracle

"On a conference call CEO Mark Hurd and CTO Larry Ellison sounded aggressive notes around Oracle’s still-new cloud business. Hurd predicted that in the 2016 fiscal year, Oracle will be the “largest enterprise cloud company by revenue,” eclipsing rivals Salesforce and Workday.

Ellison claimed that in the quarter just ended, Oracle’s $426 million in combined sales of software-as-a-service and platform-as-a-service amounted to a record for cloud software sold by any company in a single quarter. He also said it’s “possible but not likely” that Oracle could sell twice the level of cloud software to new customers as Salesforce in the coming year. He also said that Oracle expects to grow its SaaS and PaaS business by 60 percent in the coming year “unaided by acquisitions.”"

Oracle Falls on Q4 Earnings Miss, Blames Currency Effects Again | Re/code