On The Call: Oracle’s president talks tech budget recovery
By APThursday, December 17, 2009
On The Call: Oracle exec talks tech recovery
Oracle Corp.’s latest quarterly numbers show that corporations’ frozen technology budgets are thawing faster than expected. After four straight quarters of declines, Oracle’s revenue from new software licenses rose 2 percent to $1.7 billion in the fiscal second quarter, a sign that companies are becoming less reluctant to spend on new technology projects.
Oracle President Safra Catz talked with analysts on a conference call about the trends in order patterns that the business software maker is seeing.
QUESTION: You put up numbers here in this quarter that were obviously better than we anticipated and also you gave guidance that looked pretty good, better than we anticipated out here. Just curious, is there truly a recovery happening in a meaningful way? Is this a rising tide that may be lifting all ships?
ANSWER (Catz): “From where we sit it’s very hard to tell. Obviously, we are definitely seeing customers back buying and it was extremely widespread, no giant deals of any sort but lots of very nice-size transactions for every size of company, so we are really seeing a recovery. Now, it is true that our execution, our teams are doing very, very well. The products are very, very, very strong and so I think what’s happening is we are clearly winning at the expense of others, but we do also see the environment significantly improving.”
