Larry Ellison, CTO for Oracle recently stated that they have had a difficult quarter with many layoffs but, they still managed to meet the expectations set by Wall Street. They met the profits and revenue benchmark. This quarter Oracle has added more than 5000 trials of this database. The Oracle sales team had a tough time getting customers for trying their new database. There is no payment involved in these trials right now but, it will depend on the level of interest of the customers.
Oracle overcame their expected estimates last quarter. Their earnings were $1.16 per share. A revenue of $11.1 billion was reported by Oracle with a share of $1.16. They bet the revenue estimation of $186 million. Oracle’s cloud sales won the game last quarter. Their most selling apps were Human Capital Management, their HR app and Fusion ERP their enterprise resource management app. The account for FY19 was 32 percent. Apart from this their other app cloud suite for mid-size and small businesses also accounted for a large share. EPS also drove high income for Oracle last quarter. Oracle is focusing a lot on high end cloud applications. This is driving them in achieving their targets every quarter. This growth is also a result of downsizing their conventional hardware business which is proved to be low margin.