Pat Walravens, an analyst at JMP Securities, was quoted as stating “There’s no growth at Oracle” when the company missed estimates on new software sales. The view was that the shift in buying made it harder for Oracle to compete with Salesforce.com and Workday. Well, during the same week, Oracle announced cloud alliances with Salesforce and Microsoft and a story by “Fortune” says its hiring is concentrated on people with cloud talents. The “Fortune” story carried a far rosier view of Oracle’s ability to make the switch but was doubtful about future growth. It says that Oracle’s software is making it easier for CIOs to spend less on software, a fate that has happened in a lot of areas in the cloud, such as much and newspapers.
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ANALYST: ORACLE TRAILS IN CLOUD Featured
The announcement last week that Oracle and NetSuite would jointly sell HCM and ERP to the midmarket derailed the inclusion of another item in the newsletter of June 28. But perhaps that plan suggests Oracle is moving to meet the problems that Wall Street says the software company is having with the cloud. And that came in the form of published reports that the company missed its financial estimates for two consecutive quarters because customers were shifting spending to web-based tools from competitors.
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