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Oracle’s quarterly results offer hints of recovery

19
Dec
2013

By Noel Randewich SAN FRANCISCO (Reuters) – Oracle Corps better-than-expected results and quarterly revenue outlook spurred cautious hope on Wednesday that the software maker is on track to revive growth curtailed this year by slow IT spending. The No. 2 software maker posted fiscal-second-quarter results that exceeded expectations, while its outlook for third-quarter earnings was in line with Wall Street estimates. We need more data but this was a good quarter, said Bernstein analyst Mark Moerdler, who rates Oracles stock market perform. Its a work in progress, but its in a better position than it has been. Smaller, aggressive companies like Salesforce.com and Workday have been offering competitive software and Internet-based products at prices that often undercut Oracle, whose strategy is to integrate software with its own high-end, expensive hardware for greater efficiency.

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