{"id":15916,"date":"2012-06-19T17:00:46","date_gmt":"2012-06-19T15:00:46","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=15916"},"modified":"2012-06-20T09:47:28","modified_gmt":"2012-06-20T07:47:28","slug":"oracle-results-pacify-worried-investors","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/software\/15916\/oracle-results-pacify-worried-investors\/","title":{"rendered":"Oracle results pacify worried investors"},"content":{"rendered":"

Oracle Corp’s<\/a> strong results would help pacify investors worried about macroeconomic weaknesses hurting the world’s No. 3 software maker, and the departure of a senior sales executive, analysts said.<\/p>\n

Oracle reported stronger-than-expected quarterly results on Monday as sales of new software licenses jumped. It also announced an extra $10 billion in share buybacks.<\/p>\n

The company reported results much before schedule after news of the pending departure of a senior sales executive Keith Block fueled concerns that business was stagnating.<\/p>\n

“Oracle’s results, in our opinion, support our independently derived view that IT buyers are not panicking and they are not slashing budgets – this includes deservedly maligned Europe,” Canaccord Genuity analyst Richard Davis said.<\/p>\n

Oracle, whose chief rivals are Hewlett-Packard Co<\/a>, Microsoft Corp<\/a> and International Business Machines Corp<\/a>, said new software sales growth in the current quarter should be flat to 10 percent higher, despite fears of further weakening in technology spending.<\/p>\n

“We see the stock returning to strength as this quarter dispels multiple concerns – over the European situation, sales organization changes, slowing appliance momentum, slowing apps support revenue growth,” Citi analyst Walter Pritchard said.<\/p>\n

Shares of the company, which touched a high of $28.75, were trading up 2.5 percent at $27.84 on Tuesday morning on the Nasdaq<\/a>.<\/p>\n

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Oracle dealt major blow in Google case<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Oracle Corp’s strong results would help pacify investors worried about macroeconomic weaknesses hurting the world’s No. 3 software maker, and the departure of a senior sales executive, analysts said.<\/p>\n","protected":false},"author":7,"featured_media":10004,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[25,1250,229],"class_list":["post-15916","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-software","tag-active","tag-oracle","tag-results"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15916","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=15916"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15916\/revisions"}],"predecessor-version":[{"id":15919,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15916\/revisions\/15919"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/10004"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=15916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=15916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=15916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}