Oracle sank like a rock in after hours trading to below $48 on poor forecast and cloud performance. Hold on to your hats, it’s a long way down.
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Our SaaS is trash because the people who built it are incompetent amateurs. LE and TK were too cheep to hire anyone who knew what they were doing. The result, FA, built with total junk technology like ADF that everyone gave up on a decade ago.
The questions? Read the article.
The question is why is oracle falling behind in SaaS? And the answer: because its SaaS offering are the worst and cannot compete, just compare oracle’s SaaS offerings to SFDC, WorkDay, etc. oracle stuff s---s.
Which are the questions?. Maybe The Street can be given a clue....
Thestreet.com oracle has big questions to answer, especially around SaaS. Yeah, no kidding, except it doesn’t have good answers. Game over!
I have had several interviews with MS, Amazon and Google. It's funny. Most of them do not realize that Oracle considers them 'competitors'. They ask, 'what cloud products does Oracle have to sell?'
Cloud expectations weak, results down.... despite a huge work of washing!. Impressive!. End is near!.
Only a psychopath company with psychopath leadership can get so much people bored of their attitude, abuse, policies, practices... and washing!.
Oracle can wash as much as they want, your customers are not -and will not- jump into your cloud story. You have built a company on top of the greatest relational DB.... and will sink everything out of your psychopathy and abusive egotism.
@1dwi - please explain what it is that I don’t understand? Can’t wait to hear
As a result massive layoffs are coming in 2018
@qbq. So which Oracle department do you work for? HR, PR or IR? Save the PR for press releases.
@1fne sounds like you don’t understand investments at all. Please stop the FUD
$12 BN stock buyback means that LE is desperate to keep the share price up because he has borrowed lots of money with oracle shares as collateral and he doesn’t want to write personal checks for billions of dollars in additional collateral as oracle share price tumbles! Anybody who thinks otherwise needs to have their head examined.
A 12b$ buyback means the board and c-levels have tremendous confidence in the big Oracle vision. The Street was too tightly wound upon the cloud numbers but investors will realize the strategy is working effectively. Investors will get big gains on their investment of today so if you are not an investor yet, dump death stocks like AMZN and MSFT as they don’t have the growth potential. Employees of ORCL should make sure they’re committed to the company by investing their 401K plan into pure ORCL stock. As the saying goes, if you’re not invested in your employer then you are not a worthy employee.
Wtf? The top 2/3rd are getting raise every year?
Hey LE, when you get tired of writing those collateral check for your loans back by crashing oracle stock, here’s a suggestion: fire yourself, SC, MH, TK, RG and the other HP clowns, and hire a single competent CEO! Can you do that or is your ego getting on the way? Yes, you have failed LE, sail off into the sunset!
Well, the newbie college kids program is working brilliantly! MH is right on track to run yet another company into the ground, because that’s what he does best!
Not getting a raise is a you problem not an oracle problem. Likely you’re bottom 1/3 of your org.
Putting 12Billion in stock buybacks but won't even give their employees raises. Been w/ Oracle for 3 years and have not have a pay raise at all. Time for me to jump ship.
Rest assured, LARRY is STILL running oracle. Not Hurd he’s just the useful idiot front man bc the street is sick of LE and Safra has no skill set for being public facing. Back office clerk is her role.
$46 and change .... going, going down, when will it hit zero? And this is what MH is being paid millions for? F*#k!
The LE who founded oracle would not have tolerated this poor performance from MH and TK, the old, tired LE doesn’t have it in him to shake things up and fire them, too old, too tired, too disengaged, too lame! You are losing money with these jokers running oracle LE, what don’t you get old man!?
I can only image the pressure that will come for next quarter. Layoffs and stock buybacks may help with earnings but not with increases in cloud revenues. Even the analysts know that much.
$30 is not that far.... end of calendar year 2018.
MH talked up FA of all things on the call as a proof point and future of SaaS - what a dingbat! FA is the junk of junk.
OMG! Is this really true? FA? LOL!
Cloud revenues down - only so much revenue you can squeeze out through audits and by converting on-prem support revenues to cloud revenues. This clearly tells you that real cloud revenues are missing in action - going to AWS, Google, MSFT, SFDC, and WorkDay - anywhere but oracle.
The 3 Stooges, cost cutting themselves to greatness, or maybe into oblivion. Next the $5 oracle share price - when they run out of cash for buybacks!
MH talked up FA of all things on the call as a proof point and future of SaaS - what a dingbat! FA is the junk of junk.
Profits up, cloud revs down. The cuts they keep making will keep squeezing the profit number to be bigger than expectations but that is not the path to long term growth. Beware.
Adding $12 Bn to share buyback plan. Can you imagine where the stock would be now without all the buybacks? Like way in the dumps. It’s going there anyhow.
Compared to Amazon, Google, and Microsoft recent reports, this report is weak. IThis is the last quarter where Netsuite growth impacts earnings as the acquisition happened last November. Expect lower SaaS performance from here on out and accelerated shrinking of their core software and software maintenance business.
At this rate they will have to buy back a whole lot of shares to get the share price above the $80 bogey for the exec incentive plan. Feeling your pain MH & SC, life can be so tough and unfair!