Posted on Friday, Mar 29th 2019
Earlier this month, Oracle (NYSE: ORCL) announced its third quarter results. The company outpaced market expectations for the quarter but the slowdown in its revenue growth is worrying. Despite the slowdown, Oracle is close to its 52-week high.
Revenue for the third quarter declined 1% over the year to $9.6 billion. Net income increased to $2.7 billion or $0.76 per share and non-GAAP net income was $3.2 billion or $0.87 per share. Analysts were expecting earnings of $0.84 per share on revenues of $9.59 billion.
Cloud Services and License Support revenue was up 1% to $6.7 billion, while Cloud License and On-Premise License revenue was down 4% to $1.3 billion. Hardware revenue was down 8% to $915 million and services revenue was down 1% to $786 million.
Oracle ended the quarter with a cash balance of $14.72 billion.
For the current quarter, total revenues are expected to be flat to down 2% and EPS is expected to be $1.05 to $1.09. Analysts were expecting EPS of $1.05 and a 1% decline in revenue.
Oracle’s Platform Strategy
In October, Oracle launched a Digital Assistant, which is built on the Oracle Cloud Infrastructure. The Oracle Digital Assistant platform helps in building and deploying AI-enhanced digital assistants that help end users when using Oracle applications. It supports no-code development with a web-based, drag-and-drop interface that allows business subject matter experts to build and train digital assistants using visual and declarative tools without the need for specialized development or AI skills.
Last year, Oracle announced the availability of several platform services with built in automation to lower cost, reduce risk, accelerate innovation, and get predictive insights for organizations. These offerings included Oracle Autonomous Data Warehouse Cloud, Oracle Autonomous Analytics Cloud, Oracle Autonomous Integration Cloud, and Oracle Autonomous Visual Builder.
It also followed it up with a new generation of autonomous platform-as-a-service (PaaS) offerings for its Mobile Cloud Enterprise, Data Integration Platform Cloud, Developer Cloud, and API Platform Cloud. These offer self-learning chatbots and automatic Q&A chatbots designed to pull insights from unstructured data.
Last week, Oracle made available an enterprise-grade blockchain platform as part of Everledger’s blockchain-based platform, which is trusted by high-value industries such as diamonds, colored gemstones, fine wine, and art.
Oracle Cloud Platform is a comprehensive, standards-based combination of Oracle and open source technologies to build, deploy, integrate, secure and manage enterprise applications. It is also optimized for hybrid and multi-cloud environments. Oracle Cloud Platform is also available as a subscription-based or a PaaS offering. Oracle Cloud Platform supports numerous open standards such as SQL, HTML5, and REST, open-source solutions such as Kubernetes, Hadoop, and Kafka and a wide variety of programming languages, databases, and integration frameworks.
Oracle’s 2018 Acquisitions
In November, Oracle acquired SD WAN vendor Talari Networks for an undisclosed sum. San Jose-based Talari was founded in 2009 and had raised $53.5 million in funding. Talari’s SD-WAN is used by more than 500 customers in more than 40 countries. The addition of Talari’s technology is expected to complement Oracle’s session border controller (SBC) and network management infrastructure. Its annual revenue is estimated to be $15.8 million. It competed with Aryaka Networks, VeloCloud, and Ecessa Corporation.
In October, Oracle acquired company intelligence platform DataFox for an undisclosed amount. San Francisco-based DataFox was founded in 2013 and had raised $11.8 million in funding. It is expected to enhance Oracle Cloud Applications with an extensive set of AI-derived company-level data and signals. Its annual revenue is estimated to be $6 million. It competed with InsideView, PitchBook Data, and Owler.
In October, Oracle acquired health tech startup goBalto for an undisclosed sum to expand its Health Sciences business unit. goBalto’s study startup services are used at over 90,000 research sites across more than 2,000 studies in over 80 countries, delivering a 30 % reduction in study startup cycle times. San Francisco-based goBalto was founded in 2008 and had raised $37.6 million in funding. Its annual revenue is estimated to be $8 million. It competed with DataTrak Int, TrialScope, and Sylogent.
In September, Oracle acquired Iridize, a leading enterprise cloud platform for employee training and onboarding, for an undisclosed sum. Iridize’s technology was expected to enhance Oracle’s Guided Learning capabilities to increase cloud application adoption and improve the user onboarding experience. Tel Aviv-based Iridize was founded in 2010 and was bootstrapped. Its annual revenue is estimated to be $2.9 million. It competed with WalkMe, Whatfix, and Toonimo.
In May, Oracle acquired machine learning platform DataScience for an undisclosed sum. Oracle expects to offer a single data science platform that will leverage Oracle Cloud Infrastructure service and its SaaS and Paas tools. Culver City-based DataScience was founded in 2014 and has raised $28 million in funding. Its annual revenue is estimated to be $7.8 million. It competed with DataRobot, Dataiku, and Civis Analytics.
In April, Oracle acquired contextual intelligence platform Grapeshot for $400 million to complement Oracle Data Cloud. Grapeshot developed a platform to help ensure “brand safety”. New York-based Vocado was founded in 2006 and had raised $22.4 million in funding. Its annual revenue is estimated to be $35 million. It competed with Peer39, ADmantX, and Integral Development.
In April, Oracle acquired student-centric, cloud-based financial aid solution Vocado for an undisclosed sum. Vocado would be added to Oracle Student Cloud, Oracle’s cloud-based SIS. Los Angeles-based Vocado was founded in 2008 and was bootstrapped. Its annual revenue is estimated to be $4 million. It competed with Regent Education, Education Partners, and CampusLogic.
In April, Oracle acquired SparklineData to augment Oracle PaaS services for enterprise customers transitioning to Big Data solutions. SparklineData had developed SNAP, an Apache Spark native business intelligence platform for complex datasets with sub-second query response times that can be deployed over enterprise data warehouses, data lakes, and IoT analytics. SparklineData’s employees joined the Oracle Big Data Cloud organization and Oracle is expected to roll out a new release of SNAP on the Oracle Cloud in 2019. San-Francisco-based SparklineData was founded in 2014 and was bootstrapped. Terms of the deal were not disclosed
In February, Oracle acquired cloud-based, artificial intelligence-driven cyber security solution Zenedge for an undisclosed sum. Miami-based Zenedge was founded in 2017 and had raised $13.7 million in funding. Its annual revenue was estimated to be $5.1 million and it competed with Cloudflare, Sucuri, and Sharktech. The Zenedge Cybersecurity Suite is now Oracle Dyn Web Application Security, and part of the Dyn GBU secure, intelligent edge services portfolio.
We recently covered Saleforce’s thriving PaaS strategy that has helped developers and entrepreneurs build on ideas to create sustainable high-value businesses. What can Oracle do to up its PaaS game? Oracle’s platform and acquisition strategies show a leaning toward data analytics and AI startups. What other startups could Oracle acquire to reinvigorate its cloud strategy?
Last week, Oracle also disclosed its plans to cut 352 jobs in an attempt to restructure its business and rationalize the workforce to emphasize on cloud-related products. Its stock is currently trading at $53.19 with a market capitalization of $181.7 billion. It hit a 52-week low of $42.40 in December and touched a 52-week high of $54.38 last week.
Photo Credit: May Wong/Flickr.com
This segment is a part in the series : Cloud Stocks
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HubSpot Rethinks Pricing Model to Support Businesses . Akamai Investing in 5G Security Solutions . Twilio Should Provide Developer Marketplace Revenue Metrics . How can Alteryx Improve its PaaS Strategy? . Partnerships Ringing in Growth for RingCentral . Five9 Focuses on AI-based Contact Centers . Nutanix Builds a Kubernetes PaaS . Workday and Anaplan Executing Well Amid Pandemic . BlackLine Expands in Order-to-Cash Market . Zoom Investing in Security . Splunk is on a Shopping Spree . Veeva Sees Customer Momentum . Palo Alto Networks Has Missed the Window to Buy Zscaler . Can Okta Keep the Momentum Going? . Adobe Acquires to Address Growing Market Opportunity . nCino's AI Products Help it Soar . Analysis of Pure Storage’s Portworx Acquisition . Analysis of Coupa's LLamasoft Acquisition . Analysis of ZoomInfo’s Everstring Acquisition . Q2 Holdings at a New High . Data Breach Drives Cloud Security Stocks to Record Highs . Should Zoom Acquire Smartsheet? . 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BlackLine is Targeting A/R Automation Market . Okta Targets $25B Customer Identity Market with Acquisition . Teradata Trying to Reinvent Itself on the Cloud . Dropbox Acquires, But Competition Remains Stiff . Smartsheet Focuses on Partners, and not on ISVs . MongoDB has Huge Room to Grow in $97B Market . Cloud and Platform Expansion Continues at Nutanix . Rapid7 Targets $1B ARR by 2025 . DocuSign Exploring Unprecedented Digital Signature Offerings . Tenable Continues its Acquisition Spree . SolarWinds Attack Driving Zscaler's Stellar Performance . Zoom Should Report Developer Ecosystem Metrics . Dynatrace Competing with Rivals by Simplifying DevOps . Talend Becomes a Private Firm, Once Again . Everbridge Focuses on the Government Sector . Analysis of Fastly’s Signal Sciences Acquisition . Cloudera Focuses on Machine Learning for Verticals . Medallia Acquires to Expand Digital Experience Analytics . PagerDuty Sees Market Expand Beyond ITOps . Bill.com Expanding Payment Offerings for Small Businesses . Alarm.com's Product and Partner Portfolio Helps Address Competition . Sumo Logic Counts on Acquisition and Product Upgrades . Analysis of Crowdstrike’s Humio Acquisition . IBM's Transition to a Hybrid Cloud and AI Company . Analysis of Box's Acquisition of SignRequest . ON24 Should Look at Consolidating MarTech SaaS . Snowflake Exploring AI for Data Warehousing Capabilities . Unity Software Focuses on Digital Marketing with RestAR Acquisition . Tuya Counts on PaaS for Growth Within IoT . ServiceNow Continues to Acquire, Partner, and Integrate . Atlassian Expands Beyond IT Teams to Enterprise-Wide Offerings . Google's Growth Continues Despite Regulatory Concerns . Analysis of Microsoft's Acquisition of Nuance . Amazon's Ad Revenue on the Rise . Alteryx Focuses on the User and Partner Community . Qualys Expands Endpoint Security Offerings . SurveyMonkey Investing in AI and ML Tools . GoDaddy Expands Registry Catalog . Wix Goes on an Acquisition Spree . Analysis of Twilio's Zipwhip Acquisition . HubSpot's PaaS Ecosystem Revenues Expected to Grow Rapidly . Zendesk's Products Help Increase Average Deal Size . Shopify Focuses on Social Commerce . Pure Storage Expansion into Hybrid Cloud Fueled by Portworx Acquisition . Salesforce Leverages Mulesoft and Tableau Acquisitions Successfully . Workday Gearing up for Post Pandemic IT Spend Increase . Veeva Pushing Forth to $3 Billion by 2025 . Anaplan Expands Vertical Offerings . Analysis of Palo Alto's Bridgeview Acquisition . Nutanix Expands Government Vertical Offerings . Okta Expanding Government Sector Capabilities . Analysis of Splunk's TruStar Acquisition . Smartsheet Remains Focused on Integrations . Five9's Partnerships Translating to Product Innovations . DocuSign Sees Digital Signature Trends Here to Stay . Market Leader Tenable Leverages Acquisitions for Growth . Analysis of Zscaler's Recent Two Acquisitions . 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Google's Offerings Help Drive Partner Revenue Growth . ServiceNow's Entire Portfolio is Booming . How can Atlassian Amplify its Robust Growth? . Analysis of Microsoft's Three More Acquisitions After Nuance . Twilio Focuses on Customer Engagement . Analysis of Amazon's MGM Acquisition . Guidewire Focuses on Building its Partner Network . Momentive, Formerly SurveyMonkey, Adds Analytics to Offerings . Zendesk Should Look at Acquisitions . HubSpot Continues to Grow its App Marketplace . Is Alteryx Being Acquired? . Shopify Continues to Woo Developers . DigitalOcean Expands Partnership with MongoDB . Analysis of Qualys' TotalCloud Acquisition . Pure Storage Experimenting with Pricing Models . Palo Alto Networks Expands Security Capabilities . RingCentral Cashing in on the Hybrid Work Environment . Splunk Tackles Decelerating Growth with Product Upgrades . MongoDB's Atlas Capabilities Expand to the Government Sector . Analysis of Bill.com's Invoice2Go Acquisition . DocuSign Banks on Agreement Cloud . Smartsheet's Expanding Use Cases . Analysis of Salesforce's Servicetrace Acquisition . Zscaler Focuses on Federal Agencies . Coupa Launches PaaS Strategy . Analysis of BlackLine’s Kyriba Partnership . PagerDuty's Expanding Integration Portfolio . Analysis of Tenable's Accurics Acquisition . Upstart’s Improving AI Algorithm in FinTech Consumer Lending . Analysis of C3.ai's Growing Partnerships . Analysis of Veeva's Learnaboutgmp Acquisition . Analysis of Adobe's Frame.io Acquisition . Snowflake Focuses on the Financial Services Sector . CrowdStrike Expands Government Offerings . Zoom Focuses on Expanding Reseller Offerings . Dropbox Focuses on Content Creators with New Product . Analysis of Okta's atSpoke Acquisition . Sumo Logic Leverages Red Hat Marketplace . Analysis of Dynatrace's SpectX Acquisition . Tuya Prepares to Address the Chip Shortage . Analysis of Appian's Lana Labs Acquisition . Analysis of Qualtrics's $1.125B Clarabridge Acquisition . Fastly Addresses Latency Issues for Developers . Alarm.com Leverages AI for Growth . Analysis of IBM's Rego Acquisition . Analysis of Unity's Parsec Acquisition . UiPath Envisions Advanced ML Capabilities . Microsoft Teams Lags Far Behind Zoom . Analysis of ServiceNow's Gekkobrain Acquisition . Google Attempts to Gain Ground in Cloud and AI . Atlassian Expands Beyond IT Offerings . Amazon Addresses Margin Pressures Through Product Upgrades . Twilio Leverages Segment Platform for Product Expansion . Shopify Expands PaaS Integrations . Analysis of Zendesk's $4.1B Momentive Acquisition . HubSpot Becomes a Stickier Platform . Analysis of Alteryx's Acquisitions . Wix Focuses on Fitness Services Providers . Pure Storage Partners with Microsoft Azure to Address Chip Shortage Concerns . Analysis of Salesforce's LevelJump Acquisition . Qualys Expands Solutions to Address Ransomware . Veeva Eyes Data Cloud . Splunk Expands Partner Capabilities . Coupa Continues to Build on its PaaS . MongoDB Focuses on Winning Government Contracts . DocuSign Targets $50B Market Opportunity in Agreement Cloud . Smartsheet Focuses on PaaS Growth . C3.ai Expands Enterprise and Public Sector Presence . 25 Cloud Stocks to BUY in 2022 . IBM Realigns its Portfolio to Focus on AI and Hybrid Cloud . Analysis of ServiceNow's DotWalk Acquisition . Analysis of Atlassian's Percept.AI Acquisition . Should Microsoft Break Itself Up? . Google Focuses on AI Enhancements . Amazon to Test Prime Customer Stickiness . Bill.com Continues Focus on Services for the SMB Segment . Analysis of GoDaddy's Pagely Acquisition . HubSpot's PaaS Keeps Growing . Freshworks Targets IT Operations Management Market . Zendesk Rejects Private Equity Buyout Offer . Shopify Emerges as a Covid Beneficiary with Stellar Results . Wix Simplifies App Creation . Anaplan Expands AWS Relationship . ON24 Builds a Partner Network . RingCentral Maintains Market Share Leadership in UCaaS Through Partnerships . BigCommerce Rides on TikTok's Growth . Analysis of Veeva's Veracity Acquisition . Salesforce Slows Down M&A to Focus on Integration . Okta's Widening Losses Worry Investors, But Growth Metrics Remain Strong . Nutanix Plans to Take on VMWare . Newly Public HashiCorp Focuses on a $73B Infrastructure-as-a-Code Market . Coupa Focuses on Key Products to Restart Decelerating Performance . Smartsheet's Product Line-up Fails to Accelerate Growth . DocuSign Targets a $50 Billion Market Opportunity . Pure Storage Takes on Dell in Top Tier Storage Market . Analysis of PagerDuty's Catalytic Acquisition . Splunk Impresses with Enterprise Customer Growth . Analysis of Qualtrics's Acquisition of SurveyVitals . Analysis of DigitalOcean's Nimbella Acquisition . Squarespace Eyes Video Offerings for SMBs . MongoDB is Leveraging Alliance with Amazon for Growth . Rapid7's Cross-Sell Capabilities Deliver Results . CrowdStrike Expands Partnerships to Address Cyber Attack Fears . Upstart Focuses on the Automobile Market for Growth . Zoom Adds Contact Center Capabilities to Enhance its UCaaS Stack . Tuya Struggles Amid Macro Economic Conditions . Analysis of Fastly's Fanout Acquisition . Analysis of BlackLine's FourQ Systems Acquisition . Analysis of IBM's Neudesic Acquisition . Analysis of Snowflake's Streamlit Acquisition . Google's Acquisition of Mandiant Fuels its Cloud Strategy . Microsoft Expands its Healthcare Cloud Offerings . Amazon Battles Margin Pressures . Atlassian Faces Stiff Competition . GoDaddy Targets a $126B TAM Opportunity . Bill.com Builds Value Added Services to Expand Wallet Share . Analysis of ON24's VIBBIO Acquisition . Twilio's Growth is Driven by Segment . Freshworks' Bots Make Customer Interactions Easier